Before entering its closed period for the year ending 31 March 2004 and prior to meeting with stockbrokers’ analysts, Tate & Lyle issues the following routine trading update. The preliminary announcement of results for the year ending 31 March 2004 will be made on 3 June 2004.
Since the update on 28 January 2004 Tate & Lyle’s overall trading has remained in line with our expectations with Staley performing slightly better and Amylum slightly worse. Our outlook for 2005 remains unchanged.
The annual sweetener pricing round in the US is now essentially complete with outcomes within our forecast range.
Our sugar operations in Europe, Canada and Mexico continue to perform in line with expectations and generate strong cash flow for the Group.
Whilst, as expected, a working capital cash outflow is forecast for the financial year (in part due to higher raw material prices), net debt is expected to benefit from exchange translation.
The realignment of the sucralose agreements with McNeil Nutritionals and the acquisition of the sucralose manufacturing plant and ingredients business by Tate & Lyle (announced on 19 February 2004) remains on track for completion in early April 2004.
About Tate & Lyle
Tate & Lyle is a world leader in food ingredients. Our core competence is to take corn, wheat or sugar and add value to these raw materials through technology. As a result of continuous innovation we offer an ever-wider product portfolio of versatile and functional ingredients. These products include Cereal Sweeteners, Starches, Sugars and Citric Acid. Our products have wide applications in the food, beverage, pharmaceutical, cosmetic, paper, packaging and building industries.
With headquarters in London, Tate & Lyle operates more than 40 plants in 24 countries, almost all in Europe and the Americas. We employ 6,700 people in our subsidiaries with a further 2,800 employed in joint ventures. Sales in the year to 31 March 2003 totalled £3,167 million. More details are available on this website.
Click here for our press image gallery
About Tate & Lyle:
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, fortification, and texture, we develop ingredient solutions which reduce sugar, calories, and fat, add fibre and protein, and provide texture and stability in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings.
We have more than 3,500 employees working in around 57 locations across 39 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives Through the Science of Food. By living 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 2023, Tate & Lyle revenue from continuing operations totalled £1.75 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on Linkedin, X (Twitter), Facebook or YouTube.
