date:Feb 14, 2014
British food ingredients firm Tate Lyle cut its profit outlook on Thursday, citing a dramatic drop in prices of its sucralose artificial sweetener and weak sales volumes in developed markets.
Shares of Tate Lyle, which sells sucralose under the Splenda brand and other ingredients to packaged food and drink makers, tumbled 17 percent in their biggest intraday drop since 2007.
The price of Tate's sucralose, a mainstay of its specialty food ingredients business, is falling because of competitio