Tate & Lyle PLC

TATE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 199.00	Tyzfrg	Gdczbxpj

New Morningstar Analyst Report for Tate & Lyle PLC

Adam Kindreich

May 26, 2016

Business Strategy and Outlook

Tate & Lyle is a play on secular growth trends such as the increasing use of ingredients in food and beverage to remove unhealthy components (sugar, fat, salt, sodium); reduce the cost of raw materials for manufacturers and increase shelf life of the product; and satisfy the increasing number of formulations being requested by manufacturers. The business is split into speciality (38% of sales, 64% of EBIT) and bulk (62% of sales, 36% of EBIT) ingredients.

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