Tate & Lyle boss digs in as 利益（をあげる）s melt

By Robert Lea
Updated: 13:39 BST, 31 October 2007

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Tate & Lyle boss Iain Ferguson has 辞退するd to やめる the sugar 巨大（な） にもかかわらず 明かすing a 20% 崩壊（する） in half-year 利益（をあげる）s today に引き続いて a string of 利益（をあげる） 警告s over the last few months.

A 利益（をあげる） 警告 last month sent Tate 株 低迷ing 30% and led to a chorus of calls for 長，指導者 (n)役員／(a)執行力のある Ferguson and 財政／金融 director John Nicholas to go.

In one of the more excoriating City attacks on the Tate & Lyle (n)役員／(a)執行力のあるs, 仲買人 Dresdner Kleinwort said this week: '管理／経営 信用性 has taken a major dent in 2007 and 投資家s have already begun to question the suitability of Iain Ferguson for the 役割 of 長，指導者 (n)役員／(a)執行力のある officer.'

Ferguson, however, today shrugged off the calls, 説 it had not occurred to him to 辞職する にもかかわらず a 近づく-50% 急落（する），激減（する） in Tate & Lyle 株 during 2007.

'The chairman [ex-GKN boss Sir David 物陰／風下s] and I have spoken to all our major 株主s,' said Ferguson. 'The board has said it has total 信用／信任 in the 管理／経営 team. We have said all along that this year would be a year of 移行 with difficult 管理／経営 問題／発行するs.'

核心 to Ferguson's planned shake-up of Tate & Lyle is to migrate the 商売／仕事 to what it calls 'value-追加するd' food 成分s and its いわゆる wonder 製品, Splenda, the sucralose sweetener, and get it away from its （危険などに）さらす to 伝統的に volatile 商品／必需品 markets.

報告（する）／憶測ing underlying pre-税金 利益（をあげる）s of £120m for the six months to the end of September, 負かす／撃墜する from £149m. Ferguson 非難するd the group's old 核心 sugar 商品／必需品 market and the weak dollar.

He said £18m of the 利益（をあげる） 落ちる （機の）カム from its sugar 貿易（する）ing 商売／仕事 with a その上の £10m dive on the translation of 収入s into 英貨の／純銀の from the US dollar. The group does 80% of its 商売／仕事 in the US.

Sugar 貿易（する）ing had been comparatively 攻撃する，衝突する by an exceptionally strong first half in 2006, he said, while the cost of the physical 配当 of raw sugar has 増大するd 予定 to 急に上がるing shipping 率s as suitable 大型船s are snapped up to 料金d the 配達／演説／出産 of ot her goods to the Chinese and Indian 経済的な にわか景気s.

The group 示すd it now 推定する／予想するs 利益（をあげる）s for the 十分な year to come in at £240m against £281m in the year to last March. Ferguson said he signalled that after getting good visibility on costs after earlier-than-推定する／予想するd sweetener pricing 一連の会議、交渉／完成するs for 2008. That, 加える a 5% rise in the 暫定的な （株主への）配当 to 6.5% helped Tate & Lyle 株 行う／開催する／段階 a 部分的な／不平等な 決起大会／結集させる, rising 1?p, to 434?p.

分析家s said there was 救済 that there was no more obvious bad news from a group on which they have had to downwardly 改訂する 予測（する）s four times since January.

Tate & Lyle said: 'The 2008 財政上の year is 証明するing to be more challenging than 推定する／予想するd at the beginning of the year. We are 確信して that our 戦略 to 焦点（を合わせる） on our value-追加するd 商売／仕事 leaves us 井戸／弁護士席 placed to create value for our 株主s in the years ahead.'