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  "documentTitle": "Tate and Lyle | Mergers and Acquisitions Presentation Deck | 29 slides",
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  "presentationDate": "2021-07-01 00:00:00",
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  "notes": "The table compares Tate & Lyle's internal targets against external peer benchmarks for two distinct business segments.",
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      "text": "1 Tate & Lyle data: pro forma financial information for year ended 31 March 2021, except revenue growth as stated 2 Source: Company filings and FactSet, market data as of 9 July 2021. Revenue growth for years 2021 to 2023; Operating margin based on analysts' estimates for 2021 3 Peer set comprises Kerry (financials not adjusted for recent acquisitions / disposals), Sensient, Corbion and DSM. Operating margin excludes Croda; ROCE excludes Corbion 4 Peer set comprises Ingredion and Ajinomoto 5 Adjusted operating margin, see description of adjusted results in Note 4 of the Annual Report for the year ended 31 March 2021 6 Calculation based on latest reported financials. Calculated as (Adjusted Operating Profit less Amortisation of Acquired Intangibles) divided by (Goodwill & Other Intangibles add PPE add Working Capital, Provisions & Non-debt Related Derivatives). Peer calculations subject to disclosure / availability Note: The above information is not intended to constitute a Profit Forecast or estimate for any period for the purpose of the UK Listing Rules",
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      "text": "Revenue growth, Operating margin, Return on capital employed, Tate & Lyle, Speciality / Value-added, Bulk Ingredients",
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      "text": "Growth profile benchmarks attractively to speciality ingredient peers",
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