News

Tate & Lyle confirms guidance

2 Apr 2015

Tate & Lyle has issued an update for the year ended 31 March 2015 ahead of the announcement of full year results on 28 May 2015. Based on trading performance for the fourth quarter, the company said there is no change from the guidance in its trading statement on 6 February 2015. It continues to […]

Tate & Lyle has issued an update for the year ended 31 March 2015 ahead of the announcement of full year results on 28 May 2015.

Based on trading performance for the fourth quarter, the company said there is no change from the guidance in its trading statement on 6 February 2015. It continues to expect group adjusted profit before tax for the year ended 31 March 2015 to be modestly below the range stated in September 2014 of £230 to £245 million.

As expected, for the full year, group adjusted operating profit has been held back by the impact of the operational and supply chain issues experienced mainly in the first half, and the continued extremely competitive market for SPLENDA Sucralose.

As planned, the project to evaluate how best to maximise returns from SPLENDA Sucralose is reaching conclusion, Tate & Lyle said, and will be finalised with the board during April. The company expects to communicate the outcome in the next few weeks.

On 24 February 2015 Tate & Lyle launched DOLCIA PRIMAT Allulose, a low-calorie sugar, which it says is the most significant example of the innovation capability it established three years ago at the company’s Commercial and Food Innovation Centre in Chicago. Since the launch, Tate & Lyle says it has seen encouraging early interest and engagement from customers across a range of applications, and this supports the company’s confidence in its longer term potential. However, given the relatively long development and adoption cycles for new ingredients, Tate & Lyle does not expect it to have any material effect on the group’s performance during the next financial year.