Tate & Lyle sets new 5-yr targets, reorganises divisions

8th Feb 2023 07:34

(Sharecast News) - Food ingredients producer Tate & Lyle set out new targets for the five years to end-March 2028 and a reorganisation of its operating units.

The company on Wednesday said it was targeting revenue growth of 4-6% a year, underpinned by high single digit food & beverage solutions growth, core earnings growth of 7-9% per year.

It also aims for a return on capital employed improvement of up to 50 basis points per annum on average and a new target to deliver $100m of cumulative productivity benefits.

The group said it was moving to three segments - Food & Beverage Solutions, Sucralose and Primary Products Europe. As a result of this change, central costs will no longer be reported separately.

Reporting by Frank Prenesti for Sharecast.com