Tate & Lyle to raise prices as Middle East conflict pushes up costs

British food ingredients maker Tate & Lyle said on Thursday it plans to raise prices to help offset higher costs as a result of the extended Middle East conflict.

The company said it intends to offset higher expenses by passing through cost inflation as it renews customer framework agreements for calendar year 2027.

Tate & Lyle maintained its annual forecast of modest revenue growth and broadly flat operating earnings.

Chief executive Nick Hampton said strong first-half growth in Asia Pacific and a robust performance in the Americas helped offset more challenging conditions in Europe, the Middle East and Africa.

Profit falls despite modest revenue rise

Adjusted pre-tax profit fell 18 percent to £102 million ($137.6 million) in the six months to September 30, while revenue rose 1 percent to £1.04 billion.

The company also said it expects its $3.6 billion acquisition by US group Ingredion to complete in the second half of calendar year 2027.

Read more via Tate & Lyle