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Tate & Lyle slips as muted demand leaves FY outlook unchanged
(Sharecast News) - Ingredients business Tate & Lyle traded lower early on Thursday after the group reiterated that both full‑year revenue and underlying earnings were still expected to decline, with muted market demand continuing to weigh on pro forma sales. For the three months ended 31 December, Tate & Lyle said group revenue rose 15% on both a reported basis and constant currency basis, reflecting its combination with CP Kelco completed in November 2024.
On a pro forma basis, however, group revenue was 2% lower as demand remained subdued, with regional trends broadly consistent with the first half.
On a year-to-date basis, pro forma revenue in the Americas was 2% below the prior year, with modestly higher pricing offset by lower volumes, while in Europe, the Middle East and Africa, lower pricing brought about a 5% decline, while Asia Pacific revenues were up 1%, supported by higher volumes.
Looking ahead, Tate & Lyle left its FY guidance unchanged, with the group expecting both revenue and EBITDA to fall by a low‑single‑digit percentage in the year ending 31 March when compared with pro forma comparatives for the prior year.
As of 0900 GMT, Tate & Lyle shares were down 3.53% at 385.09p.
Reporting by Iain Gilbert at Sharecast.com
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