After searching i can't believe there's no thread on this one.

Anyhow what about a bounce for tomorrow after some sort of analysts meeting?

Regards

Stan.

Lower profit and increased debt..........brace yourself skinny!

Interesting situation building up at TATE. Look at that GAP that needs to be filled to 760p congestion area on chart.

Deutsche Bank have a 900p SP target!!!!!!

From late yesterday - MARKET REPORT: Tate & Lyle cash bid would be sweet music

Final Results

Highlights

Speciality Food Ingredients sales up 4% (up 4% in constant currency) at £983 million with adjusted operating profit in line with the prior year (up 1% in constant currency) at £213 million:
Continued strong growth in Asia and Latin America
Acquisition of Biovelop, and in China, the formation of Tate & Lyle Howbetter and agreement to acquire Winway Biotechnology
Bulk Ingredients adjusted operating profit 5% lower (4% lower in constant currency) at £172 million due to soft beverage season and unusually cold and prolonged winter in the US
Adjusted profit before tax 2% lower (flat in constant currency) at £322 million
Balance sheet remains strong with reduction in net debt of £126 million to £353 million (2013 – £479 million)
Final dividend of 19.8p proposed making a total dividend of 27.6p (2013 – 26.2p) up 5.3% on prior year
Successful deployment of upgraded IS/IT platform across Europe with US and Singapore on track for the summer
Board approval of capital investment of £100 million over the next two years in Speciality Food Ingredients to expand capacity for existing and pipeline products

Outlook

In Speciality Food Ingredients, we expect to deliver volume growth across all major product categories but a lower profit contribution from SPLENDA® Sucralose is expected to offset a good performance elsewhere in the division. Profits in this division are expected to be more evenly weighted between the first and second halves than the previous financial year.

In Bulk Ingredients, we now anticipate a slower start in the US in our first quarter associated with the prolonged and severe winter, combined with lower European sugar prices in our second half, to outweigh a better performance across other product categories.

Overall, and before the impact of currency movements7, while we expect the Group’s performance for the full year to be slightly lower than the comparative period, we are well placed to deliver growth in the longer term.

1 Excluding the results of discontinued operations in both periods unless otherwise stated.
2 Restated for the adoption of IAS 19 (Revised 2011) ‘Employee Benefits’ (see Note 16 to the accompanying financial information).
3 Before net exceptional charge of £14 million (2013 – £12 million) and amortisation of acquired intangible assets of £10 million (2013 – £10 million).
4 Before net exceptional charge of £14 million (2013 – £12 million), amortisation of acquired intangible assets of £10 million (2013 – £10 million) and net retirement benefit interest expense of £8 million (2013 – £4 million) and, for adjusted diluted earnings per share, the tax effect of these items.
5 Free cash flow is operating cash flow, based on adjusted operating profit from continuing operations, after working capital, interest, taxation and capital expenditure.
6 Changes in constant currency are calculated by retranslating comparative period results at current period exchange rates.
7 The estimated annual movement in operating profit and profit before tax caused by a one cent movement in the US dollar is £1.7 million and £1.6 million respectively.

Cautionary statement

This statement of full year results contains certain forward-looking statements with respect to the financial condition, results, operations and businesses of Tate & Lyle PLC. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this statement of full year results should be construed as a profit forecast.

A copy of this statement of full year results for the year ended 31 March 2014 can be found on our website at www.tateandlyle.com. A hard copy is also available from The Company Secretary, Tate & Lyle PLC, 1 Kingsway, London WC2B 6AT.

SPLENDA® is a trademark of McNeil Nutritionals, LLC.

Webcast and Conference Call Details

A presentation of the results by Chief Executive, Javed Ahmed and Chief Financial Officer, Tim Lodge will be audio webcast live at 10.00 (BST) today. To view and/or listen to a live audio-cast of the presentation, please visit: http://view-w.tv/p/797-1031-14363/en. Please note that remote listeners will not be able to ask questions during the Q&A session. A webcast replay of the presentation will be available within two hours of the end of the live broadcast on the link above.

Tough times for TATE. 650p on the cards? Might have a dabble if it goes that low.

ex div 25/6 of 19.8p

Interim Management Statement

Trading Statement

Plop!

Canaccord Genuity Sell 612.75 640.00 530.00 Downgrades

Davy Research Underperform 612.75 - - Reiterates

StockMarketWire.com
Societe Generale has downgraded its recommendation on Tate & Lyle (LON:TATE) to 'hold' from 'buy' after the company issued another profit warning, which it blamed on continuing sucralose pricing pressures.

The broker said: "Tate's second profit warning this year once again highlighted the rapidly commoditising nature of sucralose with FY15 pricing guidance now -25% (from -15%) because of stepped-up Chinese competition and a significant inventory overhang.
The problem is that sucralose spot prices are much lower than this average (SGe -50%) and visibility on pricing for FY16 is non-existent."
Analysts have cut their target price to 640 pence a share from 745 pence.

Separately, Credit Suisse repeated its bearish 'underperform' call and cut its target to 600 pence (previously 630 pence).
"Accepting that this year is somewhat one-off in nature at 600p the group would be trading on 13x our new-year (2015/16) earnings, with no reason to see that any higher" analysts said.
"There is, however, no threat to the dividend, so a 4.5% yield becomes the prop. But growth continues to look a long way off."

Half Yearly Report

Key points

Group adjusted profit before tax 34% lower in constant currency at £104m (2013 ‒ £173m):
- Operational and supply chain disruption costs of £31m

- The effect of price erosion for SPLENDA® Sucralose of £18m

Group reported sales 21% lower at £1,200m (2013 ‒ £1,516m) largely due to:
- Pass through of lower corn prices and price erosion for SPLENDA® Sucralose

- Adverse impact of the strength of sterling against the US dollar and other currencies

Speciality Food Ingredients adjusted operating profit 37% lower in constant currency at £66m (2013 – £112m)
Bulk Ingredients adjusted operating profit 10% lower in constant currency at £76m (2013 – £92m)
5.1% increase in interim dividend to 8.2p (2013 – 7.8p)
Appointment of Joan Braca as President, Speciality Food Ingredients

Trading Statement

Final Results

Key Points

Group adjusted profit before tax in line with February guidance, 30% lower at £224m (2014 ‒ £322m):
Costs from operational and supply chain disruption of £20m
SPLENDA® Sucralose adjusted operating profit lower by £46m (£43m in constant currency)
European Bulk Ingredients adjusted operating profit lower by £17m
Speciality Food Ingredients adjusted operating profit 29% lower in constant currency at £149m (2014 – £213m)
Bulk Ingredients adjusted operating profit 19% lower in constant currency at £133m (2014 – £172m)
Business re-alignment announced on 21 April 2015 to further focus on and strengthen Speciality Food Ingredients:
Re-focus SPLENDA® Sucralose on rigorous value-based strategy and consolidate production into one facility: impairment charge of £113m included in total exceptional charges of £142m (2014 ‒ £14m)
Re-align Eaststarch European joint venture by acquiring full ownership of the more speciality-focused plant in Slovakia and exiting the predominantly Bulk Ingredients plants in Bulgaria, Turkey and Hungary. We will receive €240m in cash on completion of the transaction
Implementation of new supplementary disclosure framework to provide more detail on business performance, including new disclosure on Innovation; volume from new products nearly doubled in the year
Two major new product launches: DOLCIA PRIMA™ Allulose and CLARIA® Functional Clean-label Starches
Speciality Food Ingredients completed two ‘bolt-on’ acquisitions in Asia Pacific and Latin America
Proposed final dividend of 19.8p, making a total dividend of 28.0p (2014 – 27.6p), up 1.4% on prior year
The Board intends to maintain the total dividend payment at 28.0p for the year ending 31 March 2016


more....

Liberum Capital Sell 578.25 545.00 545.00 Reiterates

Canaccord Genuity Buy 578.25 675.00 675.00 Reiterates

Credit Suisse reiterates underperform on Tate & Lyle, target cut from 600p to 550p.

Liberum Capital reiterates sell on Tate & Lyle, target cut from 545p to 505p

Looking at the chart, 550 looks fairly conservative ..

Liberum Capital Sell 564.50 545.00 505.00 Reiterates

Support at 560 but if that doesn't hold watch out below. I am watching with interest am worried 560 will not hold if FTSE has a couple of bad down days (and I think this is overdue)

FWIW, I guess folks think "Sugar" is yet another thing we shouldn't have... so TO is bound to suffer as our waistlines/teeth improve.
[TATE] really needs to find another business to wrap around what they do.
It's a product that's had its day....sure the sweetener Market could take over, but the writing is on the wall.... isn't it?

May finally have turned upwards today. 20p dividend a couple of weeds ago so chart not as horrible as it first looks

StockMarketWire.com
Tate & Lyle said its Q1 trading performance was in line with its expectations and guidance for the FY remains unchanged.

Speciality Food Ingredients made an encouraging start to the year and performed ahead of the comparative period.

The company continued in a statement:

"SPLENDA Sucralose performed solidly as we continued to pursue volume only where we see value. The consolidation of sucralose manufacturing into our facility in Alabama, USA, is progressing as planned supported by good customer engagement.

"Volume growth for Food Systems was ahead of the comparative period benefitting from the acquisition, last year, of Gemacom in Brazil. Volume across the balance of the Speciality Food Ingredients business was slightly behind the comparative period, with volume improving as we exited the quarter.

"We continued to take steps to address the impacts of the supply chain disruption experienced last year and we expect volume growth to strengthen through the remainder of the year as the additional capacity comes on-line in the second half. The volume of new products grew strongly in the quarter.

"Bulk Ingredients, excluding commodities (ethanol and co-products), performed steadily and slightly ahead of the comparative period supported by solid sweetener demand. However, this was more than offset by the impact of commodities, including the continuation of low US ethanol margins.

"The process of obtaining regulatory approval for the re-alignment of the Eaststarch joint venture in Europe is progressing well and we expect to complete this transaction around the end of the second quarter of the financial year."

SALE OF EU SUGARS; UPDATE ON LITIGATION
"As previously announced and disclosed in our 2015 Annual Report, American Sugar Holdings (ASR) raised a number of claims totalling in the region of $40 million relating to its acquisition of the Groups EU Sugars business in September 2010.

"A trial of these proceedings was held in the Commercial Court in London in early May 2015, with the judges verdict expected later in the year."

FINANCIAL POSITION AND BALANCE SHEET
"Net debt was slightly lower than the position at 31 March 2015 aided by the translation effects of a stronger sterling.

"Following the quarter end, on 21 July 2015, we priced a US$400 million debt private placement with notes to be issued maturing in 8, 10 and 12 years, extending the average maturity of our debt by approximately 2 years. The transaction is expected to complete on 29 October 2015."