Final Results - Part 2

Tate & Lyle PLC
7 June 2001


Part 2

PAGE FIFTEEN OF NINETEEN

                                 

                            TATE & LYLE
                        NOTES TO STATEMENTS
                 For the 53 weeks to 31 March 2001

                                        Audited Unaudited   Audited
                                           2001      2000      2000
                                       53 weeks  52 weeks  78 weeks
                                             to        to        to
                                       31 March  25 March  25 March
1.  Cash flow/net debt reconciliation  £million  £million  £million

-------------------------------------------------------------------
                                                             
Net cash (outflow)/inflow before                             
 financing and management of             
 liquid resources                        (104)     171       158
                                                             
Raised on issue of share capital            -        2         4
                                                             
Changes in debt not involving                                
cash flow:
- Assumed on acquisition of                
 subsidiaries                              (1)       -         -
- Reduction/(increase) on                   
 disposal of subsidiaries                   8       (1)       (1)
- Exchange movements                      (59)      10        (9)
- Amortisation of bond discount            (2)      (1)       (2)
                                        ------   ------    ------             
        
                                                             
(Increase)/reduction in net              
borrowings                               (158)     181       150
Net borrowings at start of               
period                                   (805)    (986)     (955)
                                        ------   ------    ------             
                          
Net borrowings at end of period          (963)    (805)     (805)
                                        ======   ======    ======

                                                             
2.  Analysis of net cash inflow from operating activities
------------------------------------------------------------------
                                                             
Operating profit                          151      237       352
Depreciation of tangible fixed            
 assets                                   132      136       206
Amortisation of goodwill                    5        -         -
Change in working capital                 (69)      79       (13)
Provisions against fixed asset              
 investments                                -       (2)       (1)
                                        ------   ------    ------
Net cash inflow from operating            
 activities                               219      450       544
                                        ======   ======    ======
                                                            
                                                     31        25
                                                  March     March
                                                   2001      2000
3.  Analysis of net debt                       £million  £million
------------------------------------------------------------------


Investments and cash at bank and                   
 in hand                                           117       261
Borrowings due within one year                    (426)     (434)
Borrowings due after more than                    (654)     (632)
 one year                                        ------    ------
                                                  (963)     (805)
                                                 ======    ======            

4.  Average exchange rates
------------------------------------------------------------------
                                  
   - US Dollar                             1.48      1.61      1.63
   - Euro                                  1.63      1.56      n/a
   - Belgian Franc                        65.8      62.9      61.3



PAGE SIXTEEN OF NINETEEN

                                                             
                                                             

                          TATE & LYLE PLC
                  NOTES TO STATEMENTS (continued)
                 For the 53 weeks to 31 March 2001
5.  Analysis of sales
-------------------------------------------------------------------
                    Ongoing US sugar*    Total                    
                    activit- activit-   contin-    Discont-   Total
                        ies      ies      uing      inued
53 weeks to 31     £million £million  £million   £million  £million
March 2001  
-------------------------------------------------------------------

Sweeteners and                                                
starches
   - Americas        1,201     684       1,885         -    1,885
   - Europe          1,186       -       1,186         -    1,186
   - Rest of the       
     world             507       -         507        73      580 
                    ------   ------     ------    ------   ------
                     2,894     684       3,578        73    3,651
Animal feed & bulk     
 storage               320       -         320        86      406
Other businesses        
 and activities         84       -          84         5       89
                     ------  ------     ------    ------   ------
                     3,298     684       3,982       164    4,146
                     ======  ======     ======    ======   ======


52 weeks to 25 March 2000(unaudited)
-------------------------------------------------------------------
Sweeteners and starches                                              
   - Americas        1,124     578       1,702         -    1,702
   - Europe          1,167       -       1,167         -    1,167
   - Rest of the       
     world             353       -         353       167      520
                    ------  ------      ------    ------   ------
                     2,644     578       3,222       167    3,389
Animal feed & bulk     
 storage               274       -         274       321      595
Other businesses        
 and activities         84       -          84        22      106
                    ------  ------      ------    ------   ------
                     3,002     578       3,580       510    4,090
                    ======  ======      ======    ======   ======

78 weeks to 25 March 2000
-------------------------------------------------------------------

Sweeteners and starches
   - Americas        1,681     902       2,583         -    2,583
   - Europe          1,782       -       1,782         -    1,782
   - Rest of the       
      world            494       -         494       248      742
                    ------  ------      ------    ------   ------
                     3,957     902       4,859       248    5,107
Animal feed & bulk     
 storage               422       -         422       505      927
Other businesses and   
 activities            118       -         118        31      149
                    ------  ------      ------    ------   ------
                     4,497     902       5,399       784    6,183
                    ======  ======      ======    ======   ======

* It is planned to dispose of these businesses, which are therefore
  shown separately.

Included in the analysis of total sales are the following amounts
relating to associates and joint ventures:

                                               Unaudited           
                                         2001       2000       2000
                                     53 weeks   52 weeks   78 weeks
                                           to         to         to
                                     31 March   25 March   25 March
                                     £million   £million   £million
--------------------------------------------------------------------
Sweeteners and starches                                     
   - Americas                             158        159        249
   - Europe                               119        104        148
   - Rest of the world                     33         31         47
                                         ----       ----       ----
                                          310        294        444
Animal feed & bulk storage                  4         33         56
Other businesses and                       
activities                                  5         25         37
                                         ----       ----       ----
                                          319        352        537
                                         ====       =====      ====


'Discontinued' only includes sales of businesses sold which
constitute a significant part of their segment, as required by UK
accounting standards. Sales from other businesses sold are included
in 'Ongoing activities' as follows:
---------------------------------------------------------------------
Sweeteners and starches                                     
   - Americas                               -         31         49
   - Europe                                 -          4          6
   - Other businesses                       -          -          -
                                         ----       ----       ----
                                            -         35         55
Animal feed & bulk storage                  -         15         27
Other businesses and                       
 activities                                10         20         33
                                         ----       ----       ----
                                           10         70        115
                                         ====       ====       ====


PAGE SEVENTEEN OF NINETEEN


                          TATE & LYLE PLC
                  NOTES TO STATEMENTS (continued)
                 For the 53 weeks to 31 March 2001

6.  Analysis of profit before interest
------------------------------------------------------------------------
                                                                  After
                                 Total           Before  Except- Except-
                Ongo-      US    Conti-  Discon- except-  ional   ional  
                 ing    sugar*** nuing   tinued   ional   items   items
             activit- activit- activit- activit-  items
                 ies      ies      ies      ies
            £million £million £million £million£million£million£million
53 weeks to 31 March 2001
------------------------------------------------------------------------
                                                                    
Sweeteners and starches
   - Americas   116*    (20)     96*      -        96*    (338)   (242)*
   - Europe     75**      -     75**      -       75**       (2)    73**
   - Rest of      
     the world    9       -       9       5        14        3      17
               ----    ----    ----    ----      ----     ----    ----
                200     (20)    180       5       185     (337)   (152)
                                                       
Animal feed &                                                       
 bulk storage    14       -      14      (5)        9       (5)      4
Other                                                               
businesses      
and activities  (15)      -     (15)      1       (14)       6      (8)
               ----    ----    ----    ----      ----     ----    ----
                199     (20)    179       1       180     (336)   (156)
               ----    ----    ----    ----      ----     ----    ----
                                                   

                                                                    
*  These profit figures include £2 million of goodwill amortisation.
** These profit figures include £3 million of goodwill amortisation.

52 weeks to 25 March 2000 (unaudited)
------------------------------------------------------------------------
                                                                   
Sweeteners and starches
   - Americas  171     (15)     156       -       156      14      170
   - Europe    112       -      112       -       112       9      121
   - Rest of     
    the world    9       -        9       3        12     (13)      (1)
              ----     ----    ----    ----      ----    ----     ----
               292     (15)     277       3       280      10      290
Animal feed &                                                       
 bulk storage   17       -       17      (6)       11     (28)     (17)
Other                                                               
 businesses    
and activities (13)      -      (13)      6        (7)      -       (7)
              ----     ----    ----    ----      ----    ----     ----
               296     (15)     281       3       284     (18)     266
              ----     ----    ----    ----      ----    ----     ----

                                                                    
No goodwill amortisation was charged in the year ended March 2000.

78 weeks to 25 March 2000
-----------------------------------------------------------------------
                                                                    
Sweeteners and starches
   - Americas  230      (5)     225       -       225      19      244
   - Europe    157       -      157       -       157       9      166
   - Rest of     
     the world   3       -        3      13        16     (13)       3
              ----    ----     ----    ----      ----    ----     ----
               390      (5)     385      13       398      15      413
Animal feed &                                                      
bulk storage   21        -       21       4        25     (28)      (3)
Other                                                               
businesses     (12)      -      (12)      9        (3)      -       (3)
 and
 activities    (12)      -      (12)      9        (3)      -       (3) 
              ----    ----     ----    ----      ----    ----     ----
               399      (5)     394      26       420     (13)     407
              ----    ----     ----    ----      ----    ----     ----

*** It is planned to dispose of these businesses, which are therefore
     shown separately.

'Discontinued' only includes profits and losses of businesses sold
which  constitute a significant part of their segment, as required
by   UK  accounting  standards.  Profits  and  losses  from  other
businesses sold are included in 'Ongoing activities' as follows:



                                                   Unaudited            
                                           2001         2000        2000
                                       53 weeks     52 weeks    78 weeks
                                             to           to          to
                                       31 March     25 March    25 March
                                        £million     £million    £million
-------------------------------------------------------------------------
Sweeteners and starches                                        
   - Americas                                 -            5           7
   - Europe                                   -            -           -
   - Rest of the world                        -            -           -
                                           ----         ----        ----
                                              -            5           7
Animal feed & bulk storage                    -            2           4
Other businesses and                          
 activities                                   2            2           3
                                           ----         ----        ----
                                              2            9          14
                                           ====         ====        ====


PAGE EIGHTEEN OF NINETEEN


                            TATE & LYLE
                  NOTES TO STATEMENTS (continued)
                 For the 53 weeks to 31 March 2001
                                 
7.  Net margin analysis
--------------------------------------------------------------------
                            2001            Unaudited 2000         
                       53 weeks to 31       52 weeks to 25   
                           March                March       
----------------------------------------------------------- 
                                                            
                                                              78   
                  Ongoing       All    Ongoing      All     weeks   
Before goodwill    activit-  activit-   activit- activit-    to 25
amortisation and      ies       ies        ies      ies     March
exceptional items       %         %          %        %       %
--------------------------------------------------------------------
                                                            
Sweeteners and                                              
starches
  -  Americas        9.8         5.2      15.2       9.2     8.7
  -  Europe          6.6         6.6       9.6       9.6     8.8
  -  Rest of the     
     world           1.8         2.4       2.5       2.3     2.2
                    ----        ----      ----      ------------              
                        
Sweeteners and       
 starches average    7.1         5.2      11.0       8.3     7.8
                    ----        ----      ----      ------------
                                                            
Animal feed & bulk   
 storage             4.4         2.2       6.2       1.8     2.7
                    ----        ----      ----      ------------
Group                6.2         4.5       9.9       6.9     6.8
                    ----        ----      ----      ------------
                                                           
                                                            
                                                            
After goodwill amortisation and exceptional items
-------------------------------------------------------------------
                                                            
Sweeteners and                                              
starches
     -    Americas             (12.8)               10.0     9.4
     -    Europe                 6.2                10.4     9.3
     -    Rest of                
          the world              2.9                (0.2)    0.4
                                ----                ------------              
               
Sweeteners and                  
starches average                (4.2)                8.6     8.1
                                ----                ------------
                                                            
Animal feed & bulk               
 storage                         1.0                (2.9)   (0.3)
                                ----                ------------
Group                           (3.8)                6.5     6.6
                                ----                ------------              
             
                                                            
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