Investors turn sour on Tate & Lyle
Food ingredients business Tate & Lyle's (TATE) recent third-quarter update (21 February) saw an 11% decline in its Food & Beverage Solutions business as it was hit by a mixture of customer destocking and weaker consumer demand. Foreign exchange headwinds are also having a negative impact, while contracts for 2024 have been more competitive due to softer demand.Berenberg analyst Samantha Derbyshire