In a mixed day for company results,
The sweetener specialist had some sour news for shareholders, cutting its estimate for the full year below City expectations.
The news sent its shares tumbling 136.5p or 17.5% to 650p, making it the biggest faller in a downbeat
Tate said it expected annual profits to be in line with the previous year's total of £329m, below analyst forecasts of £340m. As it headed into its final quarter, it said third quarter profit was below its expectations. The company, which supplies sweeteners and other ingredients to food and drink makers, blamed weak sales in developed markets and a drop in sucralose prices.
Tate is not the only company suffering from a disappointing update. A day after two people were arrested in connection with
On the other side of the coin,
But the Tate and Rolls falls have helped push the overall market into the red. The
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