Tate & Lyle PLC

Latest Results (18.05.2026):

Tate & Lyle PLC’s third quarter of fiscal 2026 (three months to 31 December 2025) reported trading in line with expectations. Q3 group revenue was 15% higher on a reported basis (reflecting the CP Kelco combination) but was 2% lower on a pro forma, constant‑currency basis; for the nine months to 31 December 2025 group pro forma revenue was down 3% (£1,506m reported). Management reports progress on CP Kelco integration, ongoing productivity savings and targeted investments to drive top‑line growth, and has left the full‑year outlook unchanged.

Quarterly and nine‑month revenue

For the three months to 31 December 2025 group revenue was +15% reported (constant currency) and -2% on a pro forma basis. For the nine months to 31 December 2025 group revenue was £1,506m (reported +29%; pro forma -3% in constant currency).

Regional performance (nine months)

Americas: £749m (reported +18%; pro forma -2%) — modestly higher pricing but lower volumes. EMEA: £475m (reported +27%; pro forma -5%) — lower pricing drove the decline. Asia Pacific: £282m (reported +79%; pro forma +1%) — growth driven by higher volumes.

CP Kelco integration

The acquisition of CP Kelco (completed 15 Nov 2024) is progressing well: run‑rate cost synergies and revenue synergies are tracking in line with expectations and the combined portfolio has materially increased cross‑selling opportunities in the new business pipeline.

Productivity and targeted investment

The five‑year US$200m productivity programme remains on track with further savings delivered in the quarter. Management has selectively increased investments in capabilities and technology to drive volume and revenue growth.

Outlook

Outlook for the year ending 31 March 2026 is unchanged from the interim results (6 Nov 2025): in constant currency versus pro forma comparatives Tate & Lyle expects revenue and EBITDA to decline by low‑single digit percent.

Customer engagement and commercial actions

Customer engagement and framework agreement renewals for calendar 2026 are reported as well‑advanced, and management says near‑term actions should improve top‑line performance as the expanded offering gains traction.