The Tate & Lyle Directors have proposed a final dividend for the financial year of 12.8p per ordinary share that, subject to approval by shareholders, will be paid on 5 August 2022 to shareholders who are on the Register of Members on 1 July 2022.
Other financial highlights include:
Revenue +18% and adjusted profit before tax +14%
Food & Beverage Solutions maintains positive top-line momentum:
− Volume +5% with particularly strong performance from Asia, Middle East, Africa and Latin America
− Revenue +19% with double-digit organic growth across all regions; 2ppts growth from acquisitions
− Profit +12% benefitting from positive mix; profit +7% including Primary Products Europe at £160m
Robust performance from Sucralose:
− Volume +15% led by strong demand in beverages and the benefit of production optimisation
− Revenue +13% with higher volume partially offset by customer mix
− Profit +15% at £61m
Adjusted diluted EPS +4% reflecting a significantly lower adjusted effective tax rate in the prior year
Pro-forma adjusted diluted EPS at 40.0p assumes full-year effect of share consolidation
Free cash flow of £72m (2021 - £153m) despite higher working capital requirements of £41m due to business separation planning
