Tate & Lyle plc (TATE) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the conference call for Tate and Lyle's Q3 trading statement. Your speakers today are Nick Hampton, Chief Executive, and Sarah Cowlers, Chief Financial Officer. I will now hand you over to Nick Hampton for some opening remarks. Thank you, Operator. Good morning, everyone, and thank you for joining this third quarter conference call. I will start by making a few remarks on our performance and strategic progress, and then we'll open it up to Q&A. Trading in the third quarter was in line with our expectations and consistent with the first half. Our guidance for the full year remains unchanged. On a pro forma basis and in constant currency, revenue was 2% lower in the quarter, reflecting continuous muted market demand, with performance in all regions broadly in line with the first half. On a reported basis, which includes CP Telco from the date of acquisition on the 15th of November 2024, group revenue was 15% higher. For the nine months of the 31st of December 2025, on a pro forma basis, revenue in the Americas was 2% lower, with modestly higher pricing more than offset by lower volume. In Europe, Middle East, and Africa, lower pricing resulted in 5% lower revenue. While at Asia Pacific, revenue was up 1% driven by higher volume. Turning to the renewal of customer framework agreements for the 2026 calendar year, which is well advanced. With our number one priority returning the business to top line growth, we have selectively chosen to invest to drive volume and revenue growth. This is the right thing to do for the business, giving us a stronger platform for future growth. And we are pleased with the engagement from customers to our expanded offering. We are making good progress on the series of actions we set out at our interim results to dr...