Tate & Lyle is optimistic about returning to volume growth following challenges faced in the third quarter. Despite a 4% decline in revenue for the three months ending Dec. 31, the provider of food-and-beverage ingredients remains confident in its trajectory moving forward.

Revenue Setback

Factors such as softer demand and customer destocking contributed to the decline in revenue, along with a phasing out of orders into the fourth quarter. However, Chief Executive Nick Hampton is hopeful for a turnaround, citing an anticipated renewal of customer contracts for the 2024 calendar year that is expected to drive volume growth throughout the year.

Fiscal Projections

Tate & Lyle continues to uphold its guidance for fiscal 2024, with projected growth in earnings before interest, taxes, depreciation, and amortization ranging from 7% to 9%. While revenue for the upcoming period ending March 31 is forecasted to dip slightly compared to the previous year, the company remains steadfast in its goals.

Past Performance

In fiscal 2023, Tate & Lyle reported EBITDA of 320 million pounds ($403.9 million) on revenue totaling GBP1.75 billion.

For more information, contact us at Tate & Lyle.

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