Trading update

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Prior to financial analyst briefings, Tate & Lyle makes the following announcement about current trading and prospects:


In spite of disappointing results from Amylum, unaudited profit before tax for the five months ended February 1999 was in line with budget and ahead of the profit achieved in the corresponding period last year.


In the Americas, profits from Staley were strongly ahead of the corresponding period last year, assisted by lower raw material costs, ongoing cost reductions and generally more favourable market conditions. Additionally the integration and performance of the citric acid business acquired last year has met expectations. Overall North American sugar profits were similar to those achieved in the corresponding period last year.


In Europe, the sugar businesses achieved higher profits. Amylum continued to be affected by competitive market conditions and also costs associated with the glutamate unit at its French plant. Results were below budget and the corresponding period last year.


In the Rest of World, profits were somewhat lower reflecting difficult trading conditions.


Trading performance to date indicates the Group is on track to achieve improved results in the twelve months ending September 1999.

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About Tate & Lyle: 
Tate & Lyle PLC is a leading global provider of food and beverage ingredients and solutions. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.

Through our expertise in sweetening, mouthfeel and fibre fortification, our Food & Beverage Solutions business develops solutions which reduce sugar, calories and fat, add fibre, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings. Our Primary Products business produces nutritive sweeteners, industrial starches used in paper and packaging, acidulants and products used for animal nutrition.

We have around 4,400 employees working in more than 60 locations across 30 countries. Tate & Lyle’s purpose is Improving Lives for Generations and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.

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 2021, Tate & Lyle sales totalled £2.8 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on TwitterLinkedin or Facebook.