Tate & Lyle PLC Trading Statement

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The Group made an encouraging start to the year with profit in constant currency ahead of the comparative period, and volume ahead in both divisions.


This Trading Statement covers the period from 1 April 2017 to 30 June 2017, which is the first quarter of the financial year.

The Group made an encouraging start to the year with profit in constant currency ahead of the comparative period, and volume ahead in both divisions.
In core Speciality Food Ingredients: 

− North America, where the overall Food and Beverage market remained soft, saw modest volume growth with firmer volume from some larger customers, and also continued to make progress in broadening its customer base.

− Asia Pacific and Latin America, and Europe, Middle East and Africa delivered strong volume growth.
In the remainder of the Speciality Food Ingredients division, Food Systems volume was in line with the comparative period and SPLENDA® Sucralose performed as expected.
In Bulk Ingredients, the core business performed well driven by solid demand for sweeteners and industrial starches, firm US bulk sweetener margins, and continued strong manufacturing performance. In Commodities, performance was ahead of the comparative period. 
Overall, we continue to expect that the Group will make underlying progress in the full year. 
A conference call will be held today at 07.30am BST, hosted by Javed Ahmed, Chief Executive, and Nick Hampton, Chief Financial Officer.  Participants are requested to dial in at least 10 minutes before the commencement of the call. Dial in details are as follows: 

Standard International Access: +44 (0) 20 3003 2666 Password: Tate & Lyle
A replay of this call will be available after the end of the live call for 14 days until 10 August 2017. 
UK replay number: +44 (0) 20 8196 1998 Replay access PIN: 3389225#

About Tate & Lyle: 
Tate & Lyle is a global provider of solutions and ingredients for food, beverage and industrial markets.

Tate & Lyle operates through two global divisions, Food & Beverage Solutions and Primary Products, supported by the Innovation and Commercial Development and Global Operations teams. Food & Beverage Solutions is focused on growth by building leading positions globally in the categories of beverages, dairy, and soups, sauces and dressings. Primary Products is focused on delivering steady earnings and generating cash.

Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low- and no-calorie sweeteners; and a Health and Wellness portfolio comprising mainly speciality fibres; and Stabilisers and Functional Systems, which are bespoke ingredient blends that ensure foods retain their structure.

Primary Products consists of high-volume sweeteners, industrial starches and fermentation products (primarily acidulants).  It also sells co-products from the corn milling process as animal nutrition.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2019, Tate & Lyle sales totalled £2.8 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.