Tate & Lyle posted flat sales and profit, hampered by high raw material costs and adverse exchange rates.

The company said these factors had been offset by strong US business performance and the success of Splenda(r) Sucralose. Tate & Lyle makes the product as an ingredient for food and beverage manufacturers across the world.

The company has recorded total sales in the year to March 31 of £3.17bn, unchanged in comparison with the same period last year. Pre-tax profit fell 0.4% from £228m to £227m.