London / UK. (tl) Tate + Lyle PLC, a leading global provider of speciality food ingredients and solutions, announced a strong financial performance and significant strategic progress in its 2023 Full Year Results release. «It has been an excellent first year for the new Tate + Lyle with strong financial performance and significant strategic progress,» says Chief Executive Nick Hampton in his statement.
«Our key financial measures were all met, with Group revenue and adjusted Ebitda showing double-digit growth and productivity savings well ahead of target. It’s also been another year of strategic progress as we further improved the mix of the business, greatly strengthened our solution selling capabilities, acquired a high-quality dietary fibre business in China, made a commitment to reach net zero by 2050 and launched our new brand to better reflect the new Tate + Lyle.
«Tate + Lyle’s expertise in sweetening, mouthfeel and fortification plays directly into increasing consumer demand for food and drink which is healthy, tasty, convenient, and more sustainable and affordable. The growth opportunity ahead is substantial and we saw encouraging progress in the year with revenue from New Products and solutions wins both demonstrating good momentum.
«The re-positioning of Tate + Lyle continues at pace. With our clear strategic focus and strong scientific and solutions capabilities, we are well-placed to progress our strategy and deliver on the five-year financial growth ambition announced in our Capital Markets Event in February 2023.» For additional information please read the Company’s PDF file below (237 KB):
20230526-TATE-LYLE-FY-2023.