Tate & Lyle Share Discussion Threads

[wad collector] 31/1/2012 20:34

Could be , but I am still suspicious of another market slump this year - I won't pay more than £6 here.

[mj19] 30/1/2012 15:57

whats up with this now down from 729.... to 656

time to buy yet?

[scallywagkid] 03/1/2012 17:18

Clearly the Broker to follow (not)!

[wad collector] 03/11/2011 11:56

TATE & LYLE PLC
STATEMENT OF HALF
YEAR RESULTS
For the six months to
30 September 2011
Six months to
30 September (Unaudited)
Continuing % change in constant
operations1
GBPm unless stated 2011 2010 currency3
otherwise
Sales 1 540 1 348 + 19%
Adjusted results2
Adjusted operating 194 170 + 19%
profit
Adjusted profit 180 136 + 38%
before tax
Adjusted diluted 31.5p 23.5p + 41%
earnings
per share
Statutory results
Operating profit 255 138 + 93%
Profit before tax 241 104 + 143%
Profit for the 177 73 + 172%
period (on
total operations)
Diluted earnings 37.0p 15.1p + 178%
per share
(on total operations)
Net debt 410 540
Dividend per share 7.1p 6.8p + 4.4%



Javed Ahmed, Chief Executive, said:



"Tate & Lyle delivered an encouraging performance during the first half with solid demand in a number of our markets. In Speciality Food Ingredients, we delivered good profit growth driven by increased sales volumes across the product portfolio and stable operating margins. Within Bulk Ingredients, we experienced firm demand for corn sugars in the US and Mexico and improved industrial starch margins particularly in Europe. During the first half we experienced exceptionally strong co-product returns as a result of tight market conditions."



Highlights



-- Sales in Speciality Food Ingredients up 9% (12% in constant currency)

-- Adjusted operating profit up 14% at GBP194 million (19% in constant

currency)


-- Adjusted diluted earnings per share up 34% at 31.5p (41% in constant

currency)

[craigends] 03/11/2011 11:56

That reports a nice sweetener for the share price. Getting back to old levels - and sound figures.

[wad collector] 29/9/2011 08:58

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.



* The comments on operating performance exclude the unfavourable impact of currency movements on the translation of first half profits.



CORN PRICES AND CO-PRODUCTS



For the previous full financial year (ended 31 March 2011), we reported GBP16 million of additional income from co-products following a significant increase in the US corn price, with around two-thirds of this benefit accruing during the second half.



During the first half of this financial year, we have seen a continuation of favourable market conditions for co-products and in the US we have locked in sales further forward to take advantage of unusually strong demand. In the first half, we anticipate that the additional income from co-products will contribute around double the benefit in the comparative period last year.



Since over 80% of the corn grind is utilised to produce Bulk Ingredients, the majority of this effect is recorded within this segment.



DEBT MANAGEMENT



In August we paid GBP79 million in respect of the final dividend for the year ended 31 March 2011 and received GBP24 million in relation to the recovery of tax losses that crystallised as a result of the sale of our ethanol facility in Fort Dodge. As reported in July, we have agreed to make a payment of GBP45 million into the main UK pension scheme this financial year, half of which has been paid.



OUTLOOK



In Speciality Food Ingredients, we expect to achieve steady volume growth within both Sucralose and starch-based speciality ingredients for the remainder of the financial year. Overall within Speciality Food Ingredients, we expect to deliver a year of good sales and profit growth although as previously reported, the level of profit growth is expected to be more modest than the strong result achieved in the prior financial year.



In Bulk Ingredients, we expect the firm demand for corn sugars in the US and Mexico to continue, subject to normal seasonal patterns, and stable demand in our other food markets. As usual, the outcome of the 2012 calendar year sweetener pricing rounds will influence performance in the final quarter of the financial year. Industrial starch, particularly in Europe, is expected to perform better than the prior year as a result of higher demand for corn-based starches.



Overall, and before the gains made during the first half from co-products and any impact from currency movements, our expectations for the full year remain unchanged and we continue to anticipate another year of profitable growth.




Nice to see a positive sounding statement.Next step 650p?
I just bailed out at around 636- I think more upside in BAE now.

[felix99] 08/9/2011 10:58

bidder accumulating stock ? Has recovered very strongly last few days

[wad collector] 08/9/2011 09:08

Brokers are cautious though a couple of directors have been buying.
2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
07-09-11 HOLD 291.00 49.10 24.70 315.00 52.00 25.90
Davy Stockbrokers
05-09-11 None 49.80 24.70 52.20 25.60
The Royal Bank of Scotland NV
05-09-11 HOLD 287.89 49.21 24.50 313.52 52.47 26.00
Shore Capital
02-09-11 HOLD 251.00 43.70 24.50 297.00 51.80 25.3

Sharply up last few days - has ridden the recent market plunge well.

[essentialinvestor] 28/7/2011 08:13

There was a conference call at 7.30, profit upgrades on the way..?

[essentialinvestor] 28/7/2011 08:08

Very solid statement, fully year guidence re-confirmed.

[essentialinvestor] 27/7/2011 09:56

I can live without bid rumours gramham, although they would need to pay a fat
premium, this would likely underestimate the medium term growth in prospect
for TATE.

Lets see what the IMS says tomorrow, chunky CEO share Buy just before the period
end as well.

[grahamite2] 19/7/2011 09:23

Posting partly to put this thread ahead of the other one which is no good.

Bid rumour fizzled out then.

[wad collector] 08/7/2011 20:10

Getoutahere ramper.
Just noticed the CEO bought 50,000 last week at about 620.

[10] 08/7/2011 11:07

Before you click your mouse to buy another speculative oil stock...
Please consider the following...

* FACT: China will build another 90+ new airports over the next decade.
* FACT: World demand for roads, factories & buildings is increasing exponentially.
* FACT: One company owns all the global rights & patents to an energy re-use process that makes raw material & energy manufacturing processes up to 50% more efficient.. to repeat that.. they own the *global rights* to this process.

* FACT: This company is recently dual listed and is therefore now ISA eligible.
* FACT: This company (new to LSE) has just been awarded several multi £ million contracts to complete power plants utilising this new technology (Kalina® process).
* FACT: Still under people's radars due to only listing in the UK in Dec 2010.
* FACT: You should investigate WASABI ENERGY's future plans & potential returns.

LSE:WAS
July 2011 SP: 3 pence
Projected 2013 SP: 28 pence

[essentialinvestor] 07/7/2011 14:33

My second largest holding, lovely cash generation,
looks a strong longer term investment imv, rate the CEO as well.

[mj19] 29/6/2011 10:38

now short it for a while I guess if people think its going down

[mj19] 29/6/2011 09:19

looks good for ex divi day down 2p at 9.20am

[tigerbell] 28/6/2011 22:54

IMHO I think this share, will drop for the rest of this week at least, its only up to the price it was last week, because people new that the price would ride upwards prior to the last few days of the payout.. Good look to all.

[deanforester] 28/6/2011 22:18

RBS downgraded TATE from Buy to Hold.

[jon827] 28/6/2011 18:11

Tree shake mj

[nellie1973] 28/6/2011 18:00

Broker note-Buy-target 650p

[mj19] 28/6/2011 14:44

why is so far down today?