26 February 2026 - Tate & Lyle PLC

Q3 trading in line with expectations; outlook for the full-year unchanged;

focused on actions to drive top-line growth

Tate & Lyle issues the following trading statement for the nine months ended 31 December 2025.

Nick Hampton, Chief Executive said:

"Tate & Lyle's third quarter operating performance was in line with our expectations and consistent with the first half. 

In November, at our interim results, we outlined a series of actions to drive top-line growth and improve performance.  We made good progress on these actions during the quarter.  We continued to make targeted investments in capabilities and technology to strengthen our customer offering, and saw further encouraging momentum in customer engagement in our combined portfolio.  The value of cross-selling opportunities in the new business pipeline increased significantly in the third quarter.

Delivering the benefits of the CP Kelco combination continues to progress well with run-rate cost synergies and revenue synergies tracking in line with our expectations.  Our 5-year US$200m productivity programme remains on-track with further savings delivered during the quarter.

The renewal of customer framework agreements for the 2026 calendar year is well-advanced.  With our number one priority returning the business to top-line growth, we have selectively chosen to invest to drive volume* and revenue growth.  This is the right thing to do for the business, giving us a stronger platform for future growth and we are pleased with the engagement we are seeing from customers to our expanded offering.

In the near term, I am confident that the actions we are taking will improve the top-line performance of the business.  Looking further ahead, our leading positions in sweetening, mouthfeel and fortification put us in a strong position to benefit from consumer demand for healthier, more nutritious food and drink.  The breadth of our portfolio coupled with the targeted investments we are making to accelerate customer wins in key growth areas position us well to drive profitable revenue growth over time."

Trading

For the three months to 31 December 2025, Group revenue was 15% higher on a reported basis and in constant currency, reflecting the combination with CP Kelco on 15 November 2024.  On a pro forma basis and in constant currency, revenue was 2% lower reflecting continued muted market demand.  Performance in all regions was broadly in line with the first half.

For the nine months to 31 December 2025, on a pro forma basis revenue in the Americas was 2% lower than the prior period, with modestly higher pricing more than offset by lower volume*.  In Europe, Middle East and Africa lower pricing resulted in 5% lower revenue, while in Asia Pacific revenue was up 1%, driven by higher volume*. 

Financial results

1     Comparative information is on a statutory basis, including CP Kelco from acquisition on 15 November 2024.  Change is in constant currency.

2     Comparative information is pro forma basis, including the impact of CP Kelco for the entire period.  CP Kelco acquisition completed 15 November 2024. Change is in constant currency.

Outlook

Our outlook for the 2026 financial year is unchanged from our interim results statement on 6 November 2025.  For the year ending 31 March 2026, in constant currency and compared to pro forma comparatives, we continue to expect revenue and EBITDA to decline by low-single digit percent compared to the prior year.

*  Volume is the change in revenue in the period attributable to both the change in volume and the change in composition or mix of revenue.

END   

Conference call

The third quarter conference call will be held today at 08.00am GMT hosted by Nick Hampton, Chief Executive and Sarah Kuijlaars, Chief Financial Officer.  Please note that participants are required to pre-register for the call using this link. Following registration, participants will be sent an email containing dial in numbers and their unique pin codes. Participants are requested to dial-in at least 10 minutes before the start of the call.  Dial in details are as follows:  

UK dial in number: +44 (0)33 0551 0202

UK toll free number: 0808 109 0701

US dial in number: +1 786 496 5601

US toll free number: +1 866 571 0905

Conference ID: 6840649#

User ID: Provided upon registration (register here)

14 day conference call replay:

UK replay number: +44 (0)20 8196 1480

UK toll free replay number: 0800 640 6344

US toll free replay number: +1 866 583 1035

Access code: 6840649#

For more information contact Tate & Lyle PLC:       

Kate Postans, VP, Investor Relations

Mobile: +44 (0)7388 702 934

Nick Hasell (FTI Consulting), Media Relations

Mobile: +44 (0)7825 523 383

About Tate & Lyle:

Supported by our 165-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients and solutions every day.  Through our leading expertise in sweetening, mouthfeel and fortification, we develop ingredients and solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability to food and drink in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings  

Tate & Lyle recently acquired CP Kelco, a leading provider of pectin, speciality gums and other nature-based ingredients to create a leader in mouthfeel, significantly enhancing our solutions capabilities. Following this combination, we now have more than 5,000 employees working in around 75 locations in 38 countries, serving customers in more than 120 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives through the Science of Food. By living our purpose, we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. For the year ended 31 March 2025, and on a pro forma basis which assumes for illustrative purposes that the combination with CP Kelco took place on 1 April 2024, revenue for the enlarged Tate & Lyle Group would have been £2.12 billion. For more information, please visit www.tateandlyle.com or follow Tate & Lyle on LinkedIn, X (Twitter), Facebook or YouTube.