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22 Jul 2010 07:00
New segmental information and Key Financial Performance Indicators
On 27 May 2010, Tate & Lyle PLC published its Full Year Results for the year ended 31 March 2010. Financial performance was reported on the basis of the reportable segments reflecting the business structure in place during the year.
With effect from 1 June 2010, the Group has been reorganised, and now operates through three global business units: Speciality Food Ingredients, Bulk Ingredients and Sugars. Under IFRS 8, Operating Segments, the Group’s reportable segments have been changed to reflect this reorganisation and now comprise:
- Speciality Food Ingredients
- Bulk Ingredients
- Sugars(1)
- Central
In accordance with our commitment to publish historical information for the year to 31 March 2010 in these segments ahead of the 2011 interim announcement, we publish today the following unaudited information:
- Group sales for the six months to 30 September 2009 and for the twelve months to 31 March 2010.
- Group operating profit for the six months to 30 September 2009 and for the twelve months to 31 March 2010.
We also announced on 27 May 2010 that we would report a set of key performance metrics which will measure progress towards delivery of our strategic goals. We therefore also publish today the baseline Group key financial performance metrics for the year ended 31 March 2010:
- Speciality Food Ingredients sales
- Adjusted operating profit
- Cash conversion cycle
- Return on Capital Employed (ROCE)
(1) Following the announcement of an agreement for the sale of our EU Sugar Refining operations and processes to sell our Molasses and Vietnamese Sugar businesses, the Sugars division will be classified as discontinued in the Half Year Results to 30 September 2010.
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Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from more than 45 production facilities around the world. Through our large-scale, efficient manufacturing plants, we turn raw materials into distinctive, high quality ingredients for our customers. Our ingredients and solutions add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.
Tate & Lyle’s range of leading branded food ingredients includes SPLENDA® Sucralose, PROMITOR™ Dietary Fiber and STA-LITE® Polydextrose. Tate & Lyle also produces branded industrial ingredients including Bio-PDO™, Ethylex® and Sta-Lok® paper starches; and staple ingredients such as high fructose corn syrup, ethanol, citric acid and basic starches. In addition to providing a wide range of ingredients our Innovation and Commercial Development Group supports customers by providing product development, technical advice and proprietary consumer insight studies.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2010, Tate & Lyle employed 5,666 people in its subsidiaries and joint ventures, and sales totalled £3.50 billion. http://www.tateandlyle.com.
SPLENDA® is a trademark of McNeil Nutritionals, LLC