Tate & Lyle returned to growth at the top line during the six months ending 30 September 2026, attributing the improvement to a year of strategic investment in customer engagement and commercial performance.
The ingredients producer reported a 1% increase in revenue to £1,039 million, supported by 3% growth in volume and mix. Chief executive Nick Hampton said the outcome was “in line with our expectations.”
The figures point to meaningful progress against the group’s strategic priorities, including winning more customer projects and capturing additional value from its combination with CP Kelco. Solutions new business wins increased by 15 percentage points to 58% by value, while sales from New Products rose 4%. At the end of the reporting period, the new business pipeline was valued at US$433 million, an increase of 17% on a like-for-like basis since the beginning of the financial year.
Strategic investment strengthens performance
A unified customer relationship management (CRM) system has played an important role in the improved results. Tate & Lyle has also refined its customer segmentation and reorganised its commercial teams, helping the business direct resources towards the most attractive opportunities. These measures have contributed to double-digit revenue growth across its Accelerator accounts.
“Our focus is allowing us to target higher growth sub-categories and to work with customers who value our solutions and formulation expertise the most,” Hampton noted.
The company has expanded its front-line capabilities through focused training and the introduction of artificial intelligence tools. These resources give sales and technical specialists faster access to scientific and technical information, supporting more effective customer development and product formulation.
During the period, Tate & Lyle introduced four further solution chassis covering bakery, beverages, confectionery, and soups, sauces and dressings. The additions took the total number of launched solution chassis to 22, giving customers more support as they respond to food manufacturing trends, food and beverage industry trends and evolving food and drink consumer trends.
The fibres division was a particular highlight. Promitor Soluble corn fibre achieved double-digit revenue growth as demand continued to benefit from consumer and industry interest in healthier, more nutritious food products.
Performance varied across regions
The Americas generated revenue of £521 million, representing 1% growth, while adjusted EBITDA remained stable at £134 million. Pricing initiatives helped produce 2% growth in volume and mix. North America recorded gains in contracting, although continuing weakness in consumer demand moderated the overall result. Latin America performed against a more resilient consumer backdrop.
Asia Pacific delivered the strongest regional performance. Revenue advanced 7% to £210 million, supported by 9% growth in volume and mix. North Asia performed well, with personal care in South Korea making a notable contribution. The ASEAN business recorded high-single-digit growth, while Australia and New Zealand achieved double-digit revenue growth by making effective use of the CP Kelco portfolio.
Results in Europe, the Middle East and Africa were more difficult. Revenue fell 4% to £308 million, while adjusted EBITDA declined 28% to £36 million. The region faced pricing pressure in European markets and a more demanding inflationary environment, particularly from higher energy costs. These conditions continue to influence food processing technology investment, food and drink packaging decisions and broader food and drink sustainability priorities across the sector.
Ingredion transaction moves forward
Shareholders approved the proposed acquisition of Tate & Lyle by Ingredion Incorporated through a scheme of arrangement on 28 July 2026. Of the votes cast, 98.64% supported the transaction. Regulatory and antitrust reviews are continuing, with completion anticipated during the second half of the 2027 calendar year.
Tate & Lyle identified a material going-concern uncertainty connected with the proposed acquisition. Following a change in control, future ownership and financing arrangements will fall outside the directors’ authority. Nevertheless, the directors determined that the group has adequate liquidity and sufficient covenant headroom through 31 March 2028.
Full-year guidance unchanged
The company retained its guidance for the year ending 31 March 2027. It continues to anticipate modest revenue growth, with volume gains expected to be weighted towards the second half of the year. EBITDA is projected to remain broadly unchanged before accounting for the approximately US$20 million effect of rescheduling the consolidation of bio-gums capacity.
Tate & Lyle also warned that the continuing conflict in the Middle East has intensified cost inflation beyond earlier expectations. As customer framework agreements for calendar 2027 are renewed, the group plans to recover inflationary costs through pricing. It will also pursue savings through procurement and maintain operational discipline. These actions will remain important as businesses navigate changing food and drink regulations, food distribution trends and the wider demands of food and drink marketing.
Hampton remained positive about the company’s progress: “I am encouraged by our performance in the first half which reflects the strength of our portfolio, the deep technical expertise of our people, and the power of the CP Kelco combination.”
