Tate & Lyle PLC
25 January 2005 - Tate & Lyle PLC
Trading Update
Tate & Lyle issues the following routine trading update following annual sales
contract pricing rounds at two of its major businesses.
Trading since the announcement of our interim results on 4 November 2004 has
continued to go well and the outlook for the year to 31 March 2005 has not
altered.
Tate & Lyle Food and Industrial Ingredients Americas (formerly Staley) has
substantially completed the negotiation of its calendar 2005 sales contracts.
Overall in calendar 2005 in local currency, and despite higher energy costs, we
expect at least to maintain sweetener total net margins at calendar 2004 levels.
We anticipate achieving higher total net margins on value added food ingredients
and other products.
The 2005 calendar sweetener pricing round for Tate & Lyle Food and Industrial
Ingredients Europe (formerly Amylum) has been competitive. After higher energy
costs we expect total sweetener and starch net margins to be slightly below
those achieved in calendar 2004.
Demand for sucralose remains strong and our expansion projects are on track.
For more information contact Tate & Lyle PLC:
Mark Robinson, Head of Investor Relations Tel: +44(0)20 7626 6525 or Mobile:
+44(0)7793 515 861 Email: investorrelations@tateandlyle.com
Chris Fox, Director of Corporate Relations (Press) Tel: +44(0)20 7626 6525 or
Mobile: +44(0)7801 808553
About Tate & Lyle Tate & Lyle is a world leader in renewable ingredients. Its
core competence is to take corn, wheat or sugar, and add value to these raw
materials through technology. As a result of continuous innovation it offers an
ever-wider product portfolio of versatile and functional ingredients. These
products include Cereal Sweeteners, Starches, Sugars, Citric Acid and SPLENDA®
Sucralose. Tate & Lyle products have wide applications in the food, beverage,
pharmaceutical, cosmetic, paper, packaging and building industries.
With headquarters in London, Tate & Lyle operates more than 41 plants and 20
additional production facilities in 28 countries, almost all in Europe and the
Americas. It employs 6,700 people in its subsidiaries with a further 4,800
employed in joint ventures. Sales in the year to 31 March 2004 totalled £3,167
million. More details are available on this website www.tateandlyle.com.
SPLENDA® is a trademark of McNeil Nutritionals, LLC
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.