LONDON — Tate & Lyle PLC’s revenue, excluding the impact of the recently acquired CP Kelco, dipped 4% to ₤357 million ($449 million) in the third quarter ended Dec. 31, 2024, as the company did not experience the expected acceleration in demand. The decrease primarily reflected the pass through of input cost deflation, according to London-based Tate & Lyle.

“This was another quarter of good volume and EBITDA performance,” said Nick Hampton, chief executive officer, when financials results were given Feb. 13. “Each region delivered volume growth, and we saw strong productivity and cash delivery. The muted consumer environment and ongoing geopolitical uncertainties reinforce the importance of the steps we have taken to reposition Tate & Lyle over the last six years.”

Tate & Lyle completed its acquisition of CP Kelco in November of last year. Including CP Kelco, Tate & Lyle’s revenue rose 14% in the quarter. Tate & Lyle, including CP Kelco, will operate as one business beginning April 1.

Within the company’s Food and Beverage Solutions unit, volume increased 4%, but revenue declined 4% to ₤296 million ($371 million). Within the Sucralose unit, revenue increased 19% to ₤19 million ($24 million).