Tate & Lyle PLC Trading Statement - Jul 2017

| Filed in:

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.

TRADING STATEMENT

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. 
 
END
 
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#

Click here for our press image gallery

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.