TIDMTATE
RNS Number : 2128P
Tate & Lyle PLC
08 February 2023
8 February 2023 - Tate & Lyle PLC
Tate & Lyle Capital Markets Event
Tate & Lyle PLC (Tate & Lyle) is today hosting a Capital
Markets event for investors and analysts.
The event will focus on the Group's strategy, business model,
portfolio, markets, and science-led approach which puts it at the
centre of the future of food. The event will be hosted by Nick
Hampton, Chief Executive, Dawn Allen, Chief Financial Officer,
alongside other members of the Tate & Lyle senior management
team.
Nick Hampton, Chief Executive said:
"Over the last five years, Tate & Lyle has been transformed
into a growth-focused speciality food and beverage solutions
business. A global leader in sweetening, mouthfeel and
fortification, Tate & Lyle creates high-value speciality
ingredients and solutions that meet growing global demand for
healthier and tastier food and drink.
At today's event we look forward to outlining the large and
attractive markets we operate in, our portfolio of highly
functional speciality ingredients that directly address growing
consumer trends, our scientific and solutions capabilities, how we
work with customers, and our purpose-driven approach fueling our
new focus on 'Science, Solutions, Society'."
Performance ambition for the five years ending 31 March 2028
Today, Tate & Lyle is announcing an updated organic
performance ambition for the five years ending 31 March 2028 to
deliver:
-- Revenue growth of 4% to 6% per annum, underpinned by high
single digit Food & Beverage Solutions growth per annum
-- EBITDA growth of 7% to 9% per annum
-- Return on capital employed improvement of up to 50 basis points per annum on average.
-- A new target to deliver US$100 million of cumulative productivity benefits
Reporting changes
Reflecting its new shape, the Group is adopting a simplified
disclosure framework, moving to three segments - Food &
Beverage Solutions, Sucralose and Primary Products Europe. As a
result of this change, Central costs will no longer be reported
separately.
Following the Group's recent third quarter trading update on 26
January 2023, no new material trading information or update in
respect of the current financial year ending
31 March 2023 will be provided during the event.
Registration is required to attend the event with details
available on our website at
https://www.tateandlyle.com/investors-hub . The slides to be
presented at the event will be available from the investor
relations section of our website shortly before the event, and the
webcast of the presentation will be available shortly after the
event.
END
For more information contact Tate & Lyle PLC:
Christopher Marsh, VP, Investor Relations
Mobile: +44 (0) 7796 192 688
Nick Hasell (FTI Consulting), Media Relations
Mobile: +44 (0)7825 523 383
About Tate & Lyle:
Tate & Lyle is a world leader in ingredient solutions for
healthier food and beverages. 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
fortification, we develop solutions which reduce sugar, calories
and fat, add fibre and protein, and provide texture and stability
in categories including beverages, dairy, bakery, soups, sauces and
dressings.
We have more than 3,500 employees working in around 57 locations
across 39 countries. Tate & Lyle's purpose is Transforming
Lives Through the Science of Food 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 2022, Tate & Lyle revenue from continuing
operations totalled GBP1.4 billion. For more information, please
visit https://www.tateandlyle.com or follow Tate & Lyle on
Twitter , Linkedin , Facebook or YouTube .
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END
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(END) Dow Jones Newswires
February 08, 2023 02:00 ET (07:00 GMT)
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