Hoffman Estates, Illinois: Tate & Lyle, a global provider of ingredients and solutions to food, beverage and industrial markets, will over the next two days update investors on its strategic progress at its Capital Markets Day in Hoffman Estates, Illinois and Lafayette, Indiana. The Capital Markets Day will highlight:
- Focused business delivering strong performance over the last three years
- Programmes underway to accelerate business performance: ‘Sharpen, Accelerate, Simplify’
- Delivery of US$100m productivity benefits over 4 years
- Growth expected to accelerate over time
It will confirm that the Group’s outlook for the year ending 31 March 2019, as communicated on 24 May 2018, is unchanged, being that growth in earnings per share1 in constant currency is expected to be in a mid-single digit range, albeit towards the lower end due to energy and transport cost inflation in North America and a strong year of Commodities performance in fiscal 2018.
Nick Hampton, Chief Executive, said:
“Tate & Lyle has a strong value proposition anchored in our ability to help our customers take sugar, calories and fat out of food, and in the strength of our North American Primary Products business. We work with our customers to help consumers across the world make healthier and tastier choices when they eat and drink.
By focusing on our three priorities of ‘Sharpen, Accelerate, Simplify’ we believe we can realise the growth potential of our business and, over time, grow earnings per share, improve organic return on capital employed, and deliver strong cash generation to support our progressive dividend policy.
We have a clear direction, a strong financial position and a new leadership team which is driving greater pace and a dynamic culture of partnership, agility and execution across the business.”
Outline of the event
The Group will reaffirm its commitment: to growing its Food & Beverage Solutions business driving revenue growth and margin accretion; to manage its Sucralose business for cash; and in Primary Products to optimise product mix to underpin stable earnings and cash flow delivery. It will also provide more details and insight into its three programmes to accelerate business performance:
- Sharpen our focus on our customers where our new category-led approach increasingly enables us to work with our customers more closely and provide solutions in their key consumer categories.
- Accelerateportfolio development by delivering greater pace of new product development, increasing our focus on external partnerships and alliances, and taking a more active approach to acquisitions.
- Deliver greater productivity by simplifying the business and the way we work to generate US$100m in productivity benefits over four years. Examples of productivity initiatives will be illustrated during the tour of our corn wet mill in Lafayette, Indiana.
The new leadership team, with its diversity of experience and knowledge, has the capabilities and commitment to deliver on these priorities, and deliver earnings growth over time.
Presentation materials together with an audio recording will be available on the Company’s website at www.tateandlyle.com/investors-hub shortly after the event.
1 Adjusted diluted earnings per share from continuing operations