LONDON (dpa-AFX) - Tate & Lyle Plc (TATE.L, TATYY.PK) issued a trading statement for the three months ended 31 December 2020. The Group said it delivered strong performance in the quarter with volume growth in each business and Group revenue 8% ahead of prior year. Food & Beverage Solutions revenue was up 8%. Primary Products revenue was up 9%.
For the year ending 31 March 2021, the Group projects adjusted profit before tax in constant currency to be modestly ahead of the prior year. The Group now expects the adjusted effective tax rate for the year ending 31 March 2021 to be between 12% and 14%. As a result, adjusted earnings per share are anticipated to be well ahead of prior year.
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