Successful Integration of CP Kelco
Following the combination with CP Kelco, Tate & Lyle's transformation into a growth-focused specialty business is complete. The integration is progressing well, with cost synergies of $50 million targeted by the end of the 2027 financial year, and revenue synergies expected to ramp up.
Strong Financial Performance
The enlarged Tate & Lyle delivered EBITDA growth of 18% to GBP 381 million, with profit before tax 9% higher at GBP 270 million. Earnings per share increased by 4% to 50.3p.
Significant Revenue from Innovation
Revenue from new products grew strongly by 9% on a like-for-like basis. More than 60% of revenue from the new business pipeline involves the formulation of one or more new products.
Productivity Savings Achieved
Delivered an excellent $50 million of productivity savings, with $33 million from operational and supply chain efficiencies and $17 million from strong cost management and SG&A savings.
Geographic Expansion
In Asia Pacific, revenue more than doubled to $500 million, reflecting the company's strategic focus on faster-growing markets.