Chairman’s Annual General Meeting Statement

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At the Annual General Meeting of Tate & Lyle PLC in London today, Sir David Lees, Chairman, made the following statement on current trading: We are at an early stage in our current financial year but I am pleased to report that trading in the quarter ended June 2002 is above our internal expectations with profits in all our major business units meeting or exceeding plan. Our Amylum integration programme is proceeding to plan and we remain confident of delivering net savings of £10 million during the year. The profit before tax, exceptional items and goodwill amortisation of the Group for the first quarter is considerably better than the comparative period last year, partly due to the divestment of the loss making Domino Sugar business. Further progress has been made in reducing net debt since the year end. In the outlook paragraph in my statement in the Annual Report I said that we had reasons to view the current year with increased confidence. Given the underlying trading to date, that view is reinforced.

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 2020, Tate & Lyle sales totalled £2.9 billion. For more information, please visit or follow Tate & Lyle on Twitter or Linkedin.