15th Nov 2007 07:00
15 November 2007 - Tate & Lyle PLC Amendment to a note disclosure in the Interim Results announcement Tate & Lyle PLC ("the Company") reports an amendment to a note disclosure in theInterim Results announcement for the six months to 30 September 2007 ("theinterim results"), which was published on 31 October, 2007. The amendment has no impact on the results of the Company for the six months to30 September 2007 or for the full financial year ending 31 March 2008. Thisamendment relates solely to the adjusted profit and earnings per sharedisclosures in respect of continuing operations in the prior financial yearended 31 March 2007. Included within Note 6 (earnings per share), the reconciliation of adjustedprofit and earnings per share for continuing operations for the year to 31 March2007 incorrectly included a £13m exceptional tax charge. As detailed in Note 3(exceptional items), this represented an adjustment to the tax credit recognisedon the impairment in Food & Industrial Ingredients, Europe in the year ended 31March 2006, which related to the discontinued operations. The amendedreconciliation is shown in the table below. Adjusted earnings per share Adjusted earnings per share is stated excluding exceptional items andamortisation of acquired intangible assets, as follows: \* T Year to 31 March 2007 --------------------------------------------Continuing Operations As previously As amended Proforma - as reported amended with Occidente reclassified (see note) £m £m £m ------------- ------------- --------------Profit attributable to equity holders of the Company (£million) 166 166 162Adjustments for:- exceptional items (note 3)- amortisation of acquired intangible assets 13 13 13- tax effect on the above adjustments and 9 9 9 exceptional tax items 13 - - ------------- ------------- --------------Adjusted profit (£million) 201 188 184 ------------- ------------- -------------- Adjusted basic earnings per share from continuing operations 41.6p 38.9p 38.1pAdjusted diluted earnings per share from continuing operations 40.9p 38.3p 37.5p ------------- ------------- --------------\* T Note - Occidente The effect of reclassifying Occidente, the Mexican sugar joint venture, asdiscontinued is also shown in the table above. On 8 October 2007, subsequent tothe date of the interim results, the Company announced an agreement to sell 49%of Occidente, and completion is expected by early December. Occidente wasreported as a continuing operation in the financial statements as at 30September 2007 but, as indicated at the time of the interim results, will bereported as discontinued in the year to 31 March 2008. \* TCONTACTSTim Lodge, Director of Investor RelationsTel: 020 7626 6525 or Mobile: 07798 837317 Ferne Hudson, Head of Media and Public RelationsTel: 020 7626 6525\* T About Tate & Lyle: Tate & Lyle is a world leading manufacturer of renewable food and industrialingredients. It uses innovative technology to transform corn and sugar intovalue-added ingredients for customers in the food, beverage, pharmaceutical,cosmetic, paper, packaging and building industries. The Company is a leader incereal sweeteners and starches, sugar refining, value added food and industrialingredients, and citric acid. Tate & Lyle is the world number-one in industrialstarches and is the sole manufacturer of SPLENDA(R) Sucralose. Headquartered in London, Tate & Lyle is listed on the London Stock Exchangeunder the symbol TATE.L. In the US its ADRs trade under TATYY. The Companyoperates more than 50 production facilities throughout Europe, the Americas andSouth East Asia. In the year to 31 March 2007, it employed 6,900 people in itssubsidiaries with a further 2,300 employed in joint ventures. Sales in the yearto 31 March 2007 totalled £4.0 billion. Additional information can be found onhttp://www.tateandlyle.com. SPLENDA(R) is a trademark of McNeil Nutritionals, LLC Copyright Business Wire 2007Related Shares:
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