12th Apr 2023 10:26
Treatt PLC - Suffolk, England-based manufacturer and supplier of extracts and ingredients for the beverage, flavour and fragrance industries - Expects revenue of GBP75.9 million for the six months ended on March 31, up 15% from GBP66.3 million the year before. Treatt says it continues to win business with both new and existing customers through direct sales to brands, as well as indirectly through flavour and fragrance houses. Expects pretax profit and exceptional items growth to at least GBP7.1 million, up 12% from GBP6.3 million. Says coffee growth is ahead of expectations. Expects trading to be in line with expectations for the full year.
Looking ahead, Treatt says it has started financial 2023 strongly. Says the second quarter momentum is "particularly encouraging", and that it enters the second half of the year with a "strong order book and conversion of sales pipeline". Expects to report full-year profit before tax and exceptional items in line with expectations.
Chief Executive Officer Deammon Reeve says: "We've had a strong half with record sales performance, particularly driven by our largest category, citrus, where we have both strengthened our longstanding relationships with some of the biggest beverage companies whilst also winning some new customers."
Current stock price: 620.00 pence each, up 5.4% on Wednesday morning in London
12-month change: down 45%
By Xindi Wei, Alliance News reporter
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