Tate & Lyle posts FY loss, acknowledges 'disappointing' performance

Thu, 21st May 2026 08:04

(Sharecast News) - Tate & Lyle conceded on Thursday that its full-year performance had been "disappointing" as it posted a drop in profit and revenue amid "muted" market demand.

In the year to the end of March, adjusted pre-tax profit dipped 5% from the previous year to £238m on revenue of £2.0bn, down 3%. Group adjusted earnings before interest, tax, depreciation and amortisation were down 3% at £415m.

The company said it had been a "challenging" year, integrating two large global businesses while navigating softer-than-expected market demand.

Chief executive Nick Hampton said: "The year has been one of significant progress and challenge. Progress as shown by the successful completion of the integration of the CP Kelco business with the power of the combination driving increased levels of customer traction and a stronger new business pipeline. Challenge as we simultaneously faced softer market demand than anticipated, an increasingly complex geopolitical landscape and the integration of two large global businesses.

"Overall, our financial performance has been disappointing. We are acting with urgency to return the business to top-line growth, and the targeted actions we set out in November are progressing well. Following a detailed customer segmentation exercise of our expanded customer base, we are focusing our customer-facing teams on those customers and sub-categories where we can accelerate growth."

The full-year results came a week after Tate confirmed it is in talks with US rival Ingredion about a possible £2.7bn takeover.

The company said last Thursday that under the proposal - which followed a number of earlier approaches from Ingredion - its shareholders would get 615p per share. This includes 595p per share in cash and the right to receive a final dividend of up to 13p per share and an interim dividend of up to 7p.

Under UK takeover rules, Ingredion has until 1700 BST on 11 June to make a firm offer or walk away.

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Tate & Lyle