There have been times over the past five years when Tate & Lyle may have tasted distinctly bitter. Profit warnings, a strained balance sheet and a dividend payout that was looking in jeopardy all conspired against the group and took its share price to a low of a little more than 500p.
Nick Hampton, who made quick work of sorting out the mess when he was brought in as finance director four years ago, has not hung about since he was promoted to chief executive in April. Among the measures he has introduced is a $100 million efficiency and savings drive designed to improve performance and growth. His early success was evident in Tate & Lyle’s first-half results yesterday and the shares, up 6½p to