Tate & Lyle hit by lower demand for sugar in coronavirus lockdowns
Unsurprisingly, sweeteners and ingredients for products sold in supermarkets have done better than those for out-of-home consumption
Company
Tate & Lyle PLC
LON:TATE
Tate & Lyle PLC (Tate & Lyle) is engaged in the development, manufacture and marketing of food and industrial ingredients that have been made from renewable sources. The Company operates through four divisions: Food & Industrial Ingredients, Americas; Food & Industrial Ingredients, Europe; Sucralose and Sugars. Tate & Lyle has more than 50 production worldwide. The Company participates mainly in four markets: food and beverage; industrial; pharmaceutical and personal care, and animal feed. On June 15, 2007, the Company acquired 80% of G.C. Hahn & Co. (Hahn). Hahn provides customized ingredient solutions to global customers. On April 22, 2007, the Company disposed of its shareholding in Tate & Lyle Canada (Redpath). On December 28, 2007, the Company disposed of its 49% indirect shareholding in Grupo Industrial Azucarero de Occidente, S.A. de C.V. (Occidente). In July 2008, the Company announced the sale of its international sugar trading operations to Bunge Limited
128 stories · page 3 of 7
Tate & Lyle keeps guidance unchanged
Earnings per share growth is expected to be flat to low-single digit as quarterly performance was in line with estimates
Tate & Lyle still not sweet enough for Jefferies
Analysts have taken some confidence from reports about a probable better outcome to US sweetner pricing negotiations
Archive
Purplebricks moves back into profit, sending shares sky-high
A look at some of the major risers and fallers in London markets on Thursday
Johnson Matthey keeps guidance unchanged after mixed first quarter
Johnson Matthey also announced that it has appointed a Tate & Lyle executive to lead its clear air division
Jefferies cuts Tate & Lyle to ‘underperform’ after chopping estimates to reflect headwinds “blowing into FY20”
The Jefferies analysts pointed out that US President Trump’s fresh trade spat with Mexico is unhelpful, but stressed that its changes were not a 'Mexico downgrade'
Tate & Lyle leaves bitter taste as it predicts flat EPS growth for 2020
Nick Hampton, Tate's chief executive, said for the current fiscal year the ingredients firm expected “broadly flat to low-single digit” EPS growth
Archive
United Utilities and Intertek Group to be in focus on a busy Thursday
United Utilities, Intertek, Mitchells & Butlers, TalkTalk Group, and Tate & Lyle are all in the schedule for Thursday.
Why the FTSE 100 is not the UK’s economic bellwether
While the index does contain the heavyweights of the London market, they're not the most reliable indicator of how the UK's markets are actually performing
Sainsbury's-Asda merger to put pressure on Bakkavor and other suppliers, says Barclays
Barclays said it is concerned about the “increasingly competitive” UK ready-meals market, in a note on the European food ingredients sector
Tate & Lyle reports profits ahead of comparative in final quarter of 2018 but shares turn lower on full year forecasts
The ingredients group said its adjusted pre-tax profits in the last three months of 2018 were “ahead of the comparative period”
Archive
FTSE 100 joins global equity markets to close lower
The UK index of leading shares closed down over 79 points to 7,093, while the FTSE 250 lost over 274 points at 18,799
Archive
Bank of England’s first “Super Thursday” of 2019 expected to be a bit of a damp squib amid Brexit uncertainty
Aside from the Bank of England's latest pronouncements, investors will have updates from the likes of Thomas Cook, Smith & Nephew, Compass Group and Superdry to digest on Thursday
Investments and investor services
FTSE 100 closes a shade higher as Wall Street chugs upward
The UK's premier share index added nearly 14 points to close at 7,034
Archive
Bank of England's 'Super Thursday' and slew of corporate earnings eyed as Chinese New Year begins
The week ahead includes updates from Thomas Cook, Superdry, Ryanair and Tate & Lyle, among others.
Tate & Lyle rises on solid first-half results
“We performed in line with our expectations in the first half delivering growth in adjusted profit before tax and strong cash flow despite cost inflation from materials and transport in North America, and lower profits in Commodities”
Investments and investor services
J Sainsbury and retailers to be among highlights amid busy Thursday schedule
Sainsbury, Superdry and Burberry are among the names in the diary for Thursday.
FTSE 100 keeps head above water at close: Facebook in focus
The Nasdaq on Wall Street is down over 88 points at the time of writing, at 7,420.
Archive
Blue-chip deluge on Thursday with Royal Dutch Shell, AstraZeneca and Diageo (and more) set to report
Three of the 10 largest London-listed companies (by capitalisation) are updating the market on Thursday. A dozen or more other household names are also expected to report.
Jefferies downgrades Tate & Lyle following strong share performance as NAFTA issues loom
Analysts said potential fallout from the US/Canada spat and potential NAFTA renegotiation weighed on its estimates in addition to a return to normality following a share price surge