Tate & Lyle reports 3% fall in annual profit and revenue amid weaker packaged food demand.

Tate & Lyle reported a 3% fall in annual adjusted core profit to £415 million as revenues also dropped 3% to £2.01 billion, both in line with market expectations. The company said it was talking to US rival Ingredion that has offered to buy the British food and beverage ingredients maker for £2.74 billion.

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