London / UK. (tl) Tate + Lyle PLC, a leading global provider of speciality food ingredients and solutions, announced its half-year results for the 2024 financial year. «Tate + Lyle delivered a robust financial performance in the first half despite challenging market conditions and made good progress on its growth-focused strategy,» says Chief Executive Nick Hampton in his statement.
«Food + Beverage Solutions performed well with double-digit profit growth. Revenue was higher benefiting from a combination of our focus on mix and margin expansion as well as the recovery of inflation, partially offset by softer consumer demand and customer de-stocking. In Sucralose, underlying customer demand remained steady with the lower H1 performance reflecting the phasing of orders in the comparative period.
«To deliver our commitment to «Science, Solutions, Society», we increased investment in innovation and solution selling, announced a major expansion of growth capacity for dietary fibres, and expanded the use of renewable energy across our operations. These investments strengthen customer partnerships and drive long-term growth.
«The strategic re-positioning of Tate + Lyle to focus on speciality food and beverage solutions is enhancing the quality of the business and driving performance. Our strong ingredient portfolio and solutions capabilities in sweetening, mouthfeel and fortification mean we are well-placed to benefit from the long-term trends towards healthier, tastier and more sustainable food and drink.» For additional information please read the Company’s PDF file below (216 KB):
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