Tate & Lyle plc (TATE) Q4 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.145 -- 00:00:04.349 Good morning, everyone, and thank you for joining us. 00:00:04.349 -- 00:00:10.976 I am pleased to present Tate and Lar's results for the year ended 31st of March 2024. 00:00:11.359 -- 00:00:14.984 The agenda for today's presentation is on the screen. 00:00:14.984 -- 00:00:17.427 I will begin with an overview of the year. 00:00:17.427 -- 00:00:21.914 Dawn will run through the financial results, and then I will come back to talk about 00:00:21.914 -- 00:00:27.001 our strategic progress and the outlook. Finally, Dawn and I will be happy 00:00:27.001 -- 00:00:29.164 to take your questions. 00:00:29.164 -- 00:00:31.874 So starting with the key headlines. 00:00:31.874 -- 00:00:37.002 we successfully delivered a strong financial performance in a challenging external 00:00:37.002 -- 00:00:42.050 environment, with profit growth in line with our guidance and excellent cash 00:00:42.050 -- 00:00:43.953 generation. 00:00:43.953 -- 00:00:48.981 The sale of our remaining interest in premiums, which we also announced today, 00:00:48.981 -- 00:00:54.450 completes the transformation of Tate & Lyle into a fully focused speciality 00:00:54.450 -- 00:00:59.615 food and beverage solutions business. Following completion of this transaction, 00:00:59.615 -- 00:01:04.641 we intend to start a share buyback programme to return the net cash proceeds from 00:01:04.641 -- 00:01:07.444 the sale to shareholders. 00:01:07.444 -- 00:01:12.530 We continue to make good progress delivering our strategy, with Solutions' 00:01:12.530 -- 00:01:16.254 new business wins once again increasing in the year. 00:01:16.254 -- 00:01:19.958 We are also taking a leadership position on sustainability, 00:01:19.958 -- 00:01:24.003 a critical area for the future of the food industry...