An increase in the interim dividend for the six months to 30 September 2019 of 0.2p to 8.8p has been approved by the Tate & Lyle Board. This will be paid on 3 January 2020 to all shareholders on the Register of Members on 22 November 2019. In addition to the cash dividend option, shareholders will continue to be offered a Dividend Reinvestment Plan alternative.
Other financial highlights include:
11% increase in Food & Beverage Solutions profit to £90m
‒ Sales 4% higher with good price and mix management in all regions
‒ Volume in line with the comparative period
1% decrease in Sucralose profit to £29m
5% decrease in Primary Products profit to £86m
‒ Sweeteners and Starches profit 5% lower; Commodities profit in line with the comparative period
Group statutory profit before tax 45% higher due to lower net exceptional costs
3% increase in adjusted profit before tax
3% increase in adjusted diluted earnings per share
Adjusted free cash flow £19m higher at £171m (£2m higher on pre-IFRS 16 basis*)
Net debt to EBITDA 1.0x (0.6x on pre-IFRS16 basis*)
