LONDON (dpa-AFX) - U.K.-headquartered food business Tate & Lyle plc (TATE) on Thursday said that group performance for the three months ended June 2024 was in line with expectations. Group EBITDA was also ahead of the comparative period.
The company also said that the standalone outlook for Tate & Lyle for the year ending March 2025 was unchanged. In constant currency terms, the company expects revenue to be slightly lower than the prior year. EBITDA growth is seen between 4 percent and 7 percent.
Tate & Lyle, which had on June 20, 2024, entered into an agreement to acquire CP Kelco, a leading provider of pectin and specialty gums for a total implied consideration of $1.8 billion also said that the planning for the integration was progressing well. The completion of the transaction was expected in the fourth quarter of the 2024 calendar year.
CP Kelco's financial performance in the first half of the 2024 calendar year has stabilized as anticipated, with volume well ahead of the comparative period.
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