BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Tate & Lyle Plc (TATE.L, TATYY.PK) reported that its Group revenue declined 5 percent for the three months to 30 June 2020. Food & Beverage Solutions recorded revenue of 232 million pounds, 1% higher from last year. Volume was down 2% for Food & Beverage Solutions. Primary Products revenue was at 420 million pounds, 9% lower.
The Group said its performance in the first quarter reflected the impact of lockdowns on out-of-home consumption in North America and Europe, partially offset by resilience from in-home consumption.
Nick Hampton, Chief Executive said: 'We are encouraged by the improvement in demand we saw in June and the continued strategic progress we are making, with new product revenue growing 9% in the quarter.'
Net debt as at 30 June 2020 was 384 million pounds, 67 million pounds lower than at 31 March 2020.
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