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.

Another good rise today!

Disposal

TATE & LYLE TAKES MAJOR STEP TO FOCUS BUSINESS THROUGH SALE OF EU SUGAR OPERATIONS

Tate & Lyle PLC (Tate & Lyle) announces today it has signed an agreement for the sale of its EU Sugar Refining operations (EUS) to American Sugar Refining, Inc. The consideration is 211 million payable in cash, subject to closing adjustments for net cash and working capital, with the proceeds used to reduce Tate & Lyles net debt1.

On 27 May 2010, Tate & Lyle announced its clear intentions to focus, fix and grow its business. Todays announcement is fully consistent with those intentions and will result in a more focused, less volatile business, and a solid platform to deliver sustainable long-term growth in Speciality Food Ingredients, supported by cash generated from Bulk Ingredients.

Takeover rumour mill.

Interim Management Statement.

Trading Statement.

Trading Update


Tate & Lyle issues the following trading update for the six months ending 30 September 2011 ahead of the announcement of the Half Year Results on Thursday 3 November 2011.


Javed Ahmed, Chief Executive, said: "The encouraging start to the financial year has continued during the second quarter with solid demand within a number of our markets in both Speciality Food Ingredients and Bulk Ingredients, assisted by strong co-product returns."


OPERATING PERFORMANCE - CONTINUING OPERATIONS *


In Speciality Food Ingredients, corn-based speciality sweetener and starch volumes grew in line with the market. Sucralose volume growth was particularly strong with increased demand to support new customer product launches albeit, as expected, at lower average selling prices. Sucralose volumes are expected to revert to more normal levels during the second half. In our Food Systems business, volumes were lower than our expectations due to tough trading conditions in Russia.


Within Bulk Ingredients, US corn sweeteners benefited from good domestic demand and a continuing firm market for corn sugar in Mexico. In Europe the anticipated squeeze in sweetener margins from higher corn prices has been partially offset by higher volumes. Industrial starch volumes in both the Americas and Europe are broadly in line with the prior year although we have improved margins in Europe against a market backdrop of higher demand for corn starches. We expect citric acid sales to be somewhat lower in the first half than the prior year as a result of a more competitive environment, particularly in Latin America.

Half Yearly Report.

Ex-divi on 30th Nov '11 (7.1p)

Sweeteners manufacturer Tate & Lyle became the biggest faller among Footsie constituents after reporting a mixed performance in the third quarter, with subdued volume growth in several divisions. The firm, nevertheless, said it remains on track for a "good performance" in the full-year. JP Morgan and Jefferies have both reiterated their underperform ratings on the company´s shares

..Tate & Lyle faces $40m proft hit on ethanol tax

By Harry Wallop | Telegraph – 14 minutes ago



Tate & Lyle could suffer a hit of as much as a $40m (£25.2m) to its annual profits from the removal of US tax breaks given to ethanol manufacturers.

The company, which no longer makes sugar, makes 100m gallons of ethanol a year which is mixed with petrol to make it more environmentally-friendly in America.

However, generous tax breaks equating to 45c a gallon, were scrapped by the US Government at the end of last year. Tate's main rival Archer Daniels announced earlier this week it would mothball one of its main ethanol plants as a result.

Martin Deboo, an analyst at Investec (Frankfurt: A0J32R - news) , said: "This is certainly a negative for Tate."

Tate & Lyle has indicated that it should be able to reduce its production of ethanol and switch its resources to more profitable areas. It also pointed out it was a very small part of its overall business.

But the company also used a third-quarter trading update to warn investors that very strong growth in its sucralose business from the first half, which ran at 17pc, would slow dramatically in the second half of the year.

Sucralose is used both for Splenda, a branded sweetener, and sold to fizzy drinks and medicine manufacturers. Lucrative contracts which boosted first half volumes were not repeated in the second half.

Tate & Lyle , however, said it was on track to hit full-year profit targets thanks to successfully passing on the full cost of rising corn prices in its US corn sweetener business, its biggest division. Margins should increase here.

The shares fell 22.5 to 672.5p

Trading Statement

Tate & Lyle PLC

STATEMENT ON ENTERING CLOSE PERIOD

In line with our usual practice, Tate & Lyle PLC issues the following update for the year ending 31 March 2012 ahead of the announcement of the full year results on 31 May 2012.

The Group has delivered a solid performance during the final quarter in line with our expectations, which consolidates a good performance for the full financial year.

FULL YEAR OPERATING PERFORMANCE CONTINUING OPERATIONS

In Speciality Food Ingredients, we have achieved good sales value growth with volume growth across all major product categories. As previously announced, profits are going to be weighted towards the first half as a result of SPLENDA® Sucralose volume growth reverting to more normal levels and the costs associated with restarting our McIntosh facility in the second half.

Within Bulk Ingredients, sweetener volumes have remained strong with isoglucose margins improving in Europe during the second half on the back of higher sugar prices. During the year we have also benefited from firmer industrial starch margins in Europe despite market conditions having started to soften recently against the backdrop of a more challenging macro-economic environment.

After an exceptionally strong first half, income from co-products has reverted to more normal levels during the second half.

RESTART OF MCINTOSH FACILITY

We are pleased to announce that production at our SPLENDA® Sucralose facility in McIntosh, Alabama has recently restarted ahead of schedule and that the first customer orders have started to be fulfilled from this facility.

BALANCE SHEET

As discussed in the half year results and again in the Interim Management Statement in February, working capital demands on the business have been increased by our decision to keep our US corn silos full in response to the anticipated tight supply situation running up to the next harvest. As a result, net debt at 31 March 2012 will be somewhat higher than that reported at the end of last year.

END

Disposal

BZW

Disposal

Tate & Lyle PLC

20 April 2012 Tate & Lyle PLC

SALE OF CITRIC ACID JOINT VENTURE

Tate & Lyle announces that it has reached agreement to sell its 50% share in Sucromiles, its Colombian citric acid joint venture, to its long-standing partner in this business, Organización Ardila Lülle, for total cash consideration of US $31.5 million (£19.6*m). Following completion of the sale, which is conditional upon Colombian competition authority approval, Tate & Lyle will continue to distribute citric acid products from Sucromiles outside the Colombian market.

END

Final Results.

DISPUTE WITH WHITEFOX TECHNOLOGIES – TRIAL RESULT

27 June 2012 – Tate & Lyle PLC
DISPUTE WITH WHITEFOX TECHNOLOGIES – TRIAL RESULT
NEW YORK JURY FINDS IN FAVOUR OF TATE & LYLE PLC

Tate & Lyle PLC (Tate & Lyle) announces that the jury in the case brought before the Supreme Court of the State of New York in the dispute with Whitefox Technologies has found in favour of Tate & Lyle.

The trial was referred to in Tate & Lyle’s announcement of full year results on 31 May 2012. The dispute relates to certain equipment and technology supplied by Whitefox, under an agreement entered into in June 2006, for use in Tate & Lyle's ethanol production facilities at Loudon, Tennessee and Fort Dodge, Iowa (sold in March 2011) which Tate & Lyle believes was not fit for purpose.


END

Interim Management Statement

Trading Statement

Tate & Lyle issues the following trading update for the six months ending 30 September 2012 ahead of the announcement of Half Year Results on Thursday 8 November 2012.

OPERATING PERFORMANCE - CONTINUING OPERATIONS

Overall, we expect to report adjusted operating profit for the Group for the first half in line with our expectations and the prior year period, which benefited from an exceptionally strong performance from co-products.

In Speciality Food Ingredients, we saw an improved performance in the second quarter. Volume growth for the first half is expected to be in line with the market and sales ahead of the prior year period with solid growth in the US and emerging markets offsetting a weaker performance in Europe. We have seen good growth in Sucralose volumes in the second quarter, although overall volumes in the first half are expected to be lower than the comparative period (which included an unusually large volume from customers’ new product launches) primarily due to the more difficult market conditions in Europe. This, together with the impact of the strike in Turkey and the previously announced step change in fixed costs associated with our business transformation initiatives1, will result in first half operating profit in this division being lower than the prior year period.

Within Bulk Ingredients, operating profit is expected to be ahead of the comparative period with a strong performance from liquid sweeteners in both the US and Europe more than offsetting ongoing challenging market conditions in US ethanol. Income from co-products returned to more normal levels during the period.

While US corn prices have eased slightly since publication of the USDA’s latest supply and demand estimates on 12 September 2012, prices remain high as a result of tight market conditions and continued uncertainty about the size and quality of this year’s harvest following the severe drought in the mid-west. European corn prices have followed a similar pattern to the US.

DEBT MANAGEMENT

During the last quarter, we paid the £83 million final dividend for the year ended 31 March 2012 and received £15 million in net proceeds following completion of the disposal of our share in Sucromiles, our former Colombian citric-acid joint venture.

OUTLOOK

In Speciality Food Ingredients, while we expect continued challenging market conditions in Europe, overall we expect to achieve steady volume growth across all major product categories and solid sales growth for the full year.
In Bulk Ingredients, we expect the firm demand for liquid sweeteners in the US to continue and demand in our other food markets to remain stable. In Europe, higher corn prices are expected to reduce isoglucose margins in the second half. Market conditions in US ethanol are expected to remain challenging.

As usual, the outcome of the 2013 calendar year sweetener pricing rounds will influence performance in the final quarter of the financial year.
Overall, while recognising the current level of uncertainty around the wider economy and volatile corn markets, we continue to expect to make progress this financial year.

1 Restart of the McIntosh facility; investment in global shared services and IS/IT system; development of Commercial and Food Innovation Centre in Chicago
END

A Zak Mir tip somewhere.

Half-yearly Report

Highlights

Speciality Food Ingredients sales up 5% (6% in constant currency) with adjusted operating profit 7% lower than the strong first half last year after absorbing the step change in fixed costs and a softer first quarter

Bulk Ingredients adjusted operating profit up 6% (7% in constant currency) with strong performance from sweeteners more than offsetting more normal co-product returns following £19 million of additional income in the comparative period

Business transformation programme continues with encouraging initial customer response to our new global Commercial and Food Innovation Centre in Chicago and the launch of our new venture fund

4.2% increase in interim dividend to 7.4p (2011 7.1p)

Tate & Lyle's first half reported profits dissolve
Thu 08 Nov 2012


LONDON (SHARECAST) - Softer market conditions in Europe and an increase in fixed costs put a dent in half year profits at sweeteners firm Tate & Lyle.

Reported profit before tax in the six months to September 30th tumbled to £172m from £241m the year before, a 28% fall on a constant currency (CC) basis. Adjusted profit before tax, however, which strips out one-off items, rose 2% on a CC basis to £179m from £177m at the halfway point of the previous year.

Sales rose 7% on a CC basis to £1,631m fro £1,540m.

"Tate & Lyle made progress in the first six months against the backdrop of a strong first half last year, softer market conditions in Europe and the step change in fixed costs associated with the restart of our SPLENDA Sucralose facility in McIntosh, Alabama and business transformation initiatives," said Javed Ahmed, Chief Executive of Tate & Lyle.

"Despite facing a number of headwinds this year, I am pleased that the business continues to perform solidly," he declared.

The interim dividend has been lifted to 7.4p from 7.1p last year.

Interim Management Statement

OPERATING PERFORMANCE – CONTINUING OPERATIONS

Group adjusted profit before tax1 for the third quarter was broadly in line with our expectations before the impact of exchange rate movements. As expected, adjusted profit before tax was lower than the comparative period as a result of the step change in fixed costs associated with our business transformation initiatives2.

Within Speciality Food Ingredients, we achieved good sales growth with volume growth ahead of the wider speciality food ingredients market. In starch-based speciality ingredients, we achieved good sales growth with volume growth in all regions. In high intensity sweeteners, while we saw a return towards more normal sucralose volume growth and expect this to continue in the final quarter, the level of growth was not as strong as anticipated in November and we now expect sucralose volumes for the full year to be slightly lower than last year. In Food Systems, sales were broadly in line with the comparative period on lower volumes. Operating profit3 for the Speciality Food Ingredients division for the full year is now expected to be broadly in line with the prior year.

Within Bulk Ingredients, overall demand for North American liquid sweeteners was solid during the third quarter. In Europe, margins for liquid sweeteners were broadly in line with the prior year period. The markets for industrial starches in both Europe and the US were relatively stable while the environment for US ethanol continued to be challenging.

Corn and co-products

Corn supplies in the US and Europe remained tight and with the latest projections from the USDA for the stocks-to-use ratio at 5.3%, prices are expected to remain high with some volatility over the coming months until the new harvest.

As announced in November 2012, we have taken a number of steps to mitigate the impact of aflatoxin, a fungus caused by the unusually hot and dry conditions last summer. The impact of aflatoxin from the new harvest corn was felt particularly in the third quarter while we implemented a number of actions including adjustments to our corn sourcing programme.

We expect a further small increase in net corn costs in the final quarter of the financial year and estimate the impact of aflatoxin will be to reduce operating profit by around £7 million for the full year. We will continue to take action to manage the risks posed by aflatoxin during the first half of next financial year up to the new harvest.

BALANCE SHEET AND WORKING CAPITAL

Net debt at 31 December 2012 was £395 million. In light of continuing tight market conditions in both the US and Europe, we continue to hold high corn inventories for security of supply. As usual, we have paid for a significant amount of this corn in

January, and at higher prices than the prior year. As a result, and based on current corn prices and exchange rates4, we currently anticipate that this will drive a net cash outflow in the final quarter of the financial year.

CUSTOMER CONTRACTING

The 2013 calendar year sweetener pricing round in North America for the Bulk Ingredients business is now substantially complete. As in the previous year, this pricing round has been conducted against the backdrop of materially higher corn costs.

In North America, after recovering these higher input costs, we achieved a modest increase in corn sweetener unit margins across our sweetener customers reflecting a continuation of high levels of industry capacity utilisation. Bulk Ingredients sweetener volumes are expected to be broadly in line with calendar year 2012.

In Europe, we continue to contract over shorter periods to partially mitigate corn cost volatility. Despite sugar prices remaining high, sweetener margins are expected to be lower as a result of higher corn costs.

OUTLOOK

The Group has made a solid start to the final quarter. Despite facing a number of headwinds and before the impact of exchange rate movements, we expect to make modest progress this financial year.

END

Nicely through 800.0 today. Could this be the start of modest progress or a dead cat?