Successful Integration of CP Kelco
The integration of CP Kelco was highlighted as a significant strategic milestone, completing the transformation into a growth-focused specialty business. The combined business is expected to deliver substantial revenue and cost synergies.
Strong Financial Performance
Tate & Lyle delivered robust financial performance with an 18% increase in EBITDA to GBP 381 million, profit before tax rising by 9% to GBP 270 million, and earnings per share increasing by 4% to 50.3p.
Productivity Savings and Innovation
Productivity savings amounted to $50 million, with significant contributions from operational and supply chain efficiencies. The company also invested $80 million in innovation, with new product revenue growing strongly by 9%.
Positive Revenue Growth in Asia Pacific
Revenue in Asia Pacific more than doubled to $500 million, highlighting strong growth in this region.
Sucralose Revenue and Margin Improvement
Sucralose had a solid year with revenue up 16% and EBITDA growing 18%, with an EBITDA margin improvement to 31.1%.