FINANCIAL STRATEGY
regulators and campaigners alike, so it runs full accounts in lockstep with a dedicated sustainability report. Norcros, a bathrooms group spanning Britain and South Africa, is precisely the scale of company where the FRC finds most of its errors, yet it won by compressing a jumble of brands into one legible investment story. Good reporting is a habit, not a market cap.
The last report The mid-cap trophy comes with a coda. On 8 June Tate & Lyle’ s board recommended a £ 2.7bn( US $ 3.6bn) cash offer from Ingredion, the American ingredients group, at 595p a share, a 59 % premium to the undisturbed price and a number that says the story landed; nobody pays billions for a business they cannot understand. Completion is pencilled in for the second half of 2027, which means the CFO who spent her first year learning the company will spend her next 18 months handing it over, and its finest year as a storyteller may prove its last as a public company. Sarah, whose whole method was to get out of the building, gets the last word on where the building is headed.“ To navigate through this, to provide healthy, tasty food,” she says,“ the industry will have to work together.” financechief. com
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