Tate & Lyle plc (TATE) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the conference call for Tate and Lyle's first half pre-closing statement. Today's call is hosted by Nick Hampton, Chief Executive Officer, and Sarah Gowers, Chief Financial Officer. I will now hand over to Nick Hampton. Thank you, Operator, and good morning, everyone. Welcome to the conference call. I will make some introductory comments, and then Sarah and I will be happy to take your questions. First, I want to look at the bigger picture. We continue to make very good progress delivering the benefits of the CP Turbo combination. Customers are increasingly recognising the strength of our combined portfolio, especially our expertise in mouthfeel, and this has led to a very encouraging early cross-sale successes, with the value of the pipeline more than doubling in the last two months alone. The strong interest our combined offering and reformulation expertise is generating with customers, clearly demonstrates the strategic logic of bringing Skeptate and Lyle and CP Calco together, and reinforces our confidence in the growth potential of the combined business. While the level of customer engagement is high, we are operating in a tough market and have seen a slowdown in demand as the first half progressed, particularly over the last few months, which in turn has slowed our recent performance. We are seeing different dynamics across each region, In the Americas, we expect revenue in the first half to be slightly lower, reflecting softer consumer demand, making North America still our largest market. In Europe, Middle East and Africa, revenue is expected to be mid-single-digit lower, despite slightly higher demand. In Asia-Pacific, revenue is expected to be broadly in line after absorbing the impact of tariffs, which we continue to navigate we...