Tate & Lyle Profit Surges To $274 million, Raises Dividend

Tate & Lyle PLC TATYY reported a strong rise in its net profit for the year to March 31on Friday. Tate & Lyle's net profit jumped to 163 million pounds ($274 million), from 15 million pounds, in the year-earlier period. It reported an operating profit of 303 million pounds, versus a loss of 44 million pounds. The group's sales surged 7% to 2.72 billion pounds, from 2.53 billion pounds. Tate & Lyle raised its final dividend 5% to 16.9 pence, for a total full-year dividend of 23.7 pence. Tate & Lyle shares gained 3.75% to close at $40.72 yesterday. Read more from Benzinga's Company news.