May 4, 2020 / 6:27 AM / a month ago

BRIEF-Tate & Lyle Expects Results Slightly Ahead Of Its Guidance Coming Into Year

May 4 (Reuters) - Tate & Lyle PLC:

* TRADING UPDATE

* VOLUME FOR FOOD & BEVERAGE SOLUTIONS IN LINE WITH COMPARATIVE PERIOD AND SUCRALOSE 18% HIGHER IN APRIL 2020

* GROUP PERFORMED WELL DURING YEAR WITH EACH TRADING DIVISION EXCEEDING PRIOR YEAR’S PERFORMANCE

* WE EXPECT TO ANNOUNCE RESULTS SLIGHTLY AHEAD OF OUR GUIDANCE COMING INTO YEAR

* TRADING IN MARCH SHOWED LIMITED IMPACT FROM COVID-19 PANDEMIC,

* GLOBAL LOCKDOWNS IN PLACE THROUGHOUT APRIL, MOST NOTABLY IN US & EUROPE, LED TO SOME SIGNIFICANT CHANGES IN DEMAND PATTERNS FOR PRODUCTS

* EARLIER IN APRIL DEMAND WAS STRONG FOR INGREDIENTS USED IN PACKAGED AND SHELF-STABLE FOODS AS CONSUMERS FILLED THEIR PANTRIES

* PRIMARY PRODUCTS VOLUME WAS SIGNIFICANTLY IMPACTED BY FIRST FULL MONTH OF LOCKDOWN IN US

* BULK SWEETENER VOLUME 26% LOWER FROM REDUCED OUT-OF-HOME CONSUMPTION AS BARS, CINEMAS,RESTAURANTS & SPORTING EVENTS WERE SHUT OR CANCELLED Source text for Eikon: Further company coverage:

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