Tate & Lyle

Good underlying delivery as transitory headwinds mount

  • Sectors : Foods
  • Companies : Tate & Lyle

Ratings and price correct at time of issue.

  • Tate & Lyle

    Closing Price: 634p

  • RATING 17/02/16

  • PREVIOUS RATING 13/02/14



Tate & Lyle’s FY 2020 results confirm good execution across the platform, with volume growth and operating leverage improving for value-add activities. FY 2021 will be impacted by COVID-driven demand challenges in the Foodservice channel, with the scale of the challenges yet to be reflected in consensus forecasts. It remains backboned by productivity measures and a strong financial structure. Unsurprisingly, given the macro uncertainty, management has withdrawn full-year guidance.

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May 21 2020, 11:55 IST/BST