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Tate & Lyle
It has been a difficult year, but as we near the end of the EU Sugar Regime restructuring period, we see increasing evidence of equilibriu, returning to the EU sugar market. Ian Bacon Chief Executive, Sugars

Sugars

Our Sugars division is the largest cane sugar refiner in the EU. It has well-known brands such as Tate & Lyle Sugars and Lyle’s Golden Syrup in the UK; Sidul and Sores in Portugal; and Melli in Vietnam. It also distributes molasses, a by-product of cane sugar processing, throughout the world.

Key performance indicators

Return on net operating assets1  
Target (longer-term) 20%
2009 4%
2008 11%
2007 17%

1 Measured by financial year on continuing operations

Description. This is the division’s profit before interest, tax and exceptional items divided by the average net operating assets. The Group’s initial target is to achieve a return on net operating assets of 15%, with a longer-term target of 20%.

Energy use2  
Target 3.0% reduction
2008 zero
2007 zero
2006 3.4% reduction

2 Measured by calendar year
 

Description. Our businesses have a target to reduce energy consumption on a per unit basis by 3% each year. The figures above show the percentage movement in the division’s energy index each year. More details on the Group’s energy use are in the Corporate Social Resposibility section.

Safety index3  
Target zero
2008 2.04
2007 2.86
2006 2.35

3 Measured by calendar year
 

Description. Our safety index compares safety performance across the division and is a weighted average of injuries sustained in the workplace, with more severe incidents having greater impact. The lower the index, the better the performance. More details are in the Corporate Social Responsibility section.

Financial highlights

  Year to 31 March 2009 Year to 31 March 2008
£m Primary Value added Total Primary Value added Total
Sales
Products 711 68 779 596 73 669
Molasses 269 269 203 203
  980 68 1 048 799 73 872
Adjusted operating (loss)/profit
Products (11) 5 (6) 15 5 20
Molasses 18 18 13 13
  7 5 12 28 5 33
Margin  
Products (1.5%) 7.4% (0.8%) 2.5% 6.8% 3.0%
Molasses 6.7% 6.7% 6.4% 6.4%
Total 0.7% 7.4% 1.1% 3.5% 6.8% 3.8%

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