2nd Oct 2015 06:40
LONDON (Alliance News) - Treatt PLC Friday said the group performed well in the second half of its financial year and as a result expects to report revenue and pretax profit in line with expectations for the full year.
Treatt, which supplies ingredients to the flavour, fragrance and fast-moving consumer goods industries, said that following a quieter start to the year, momentum grew as the year progressed, ending with a strong fourth quarter.
Revenue was helped by high market prices for certain key ingredients, particularly lemon and lime oil, although this did not result in a higher gross margin, Treatt said.
The company added that it ended the year with net debt at its lowest level since 2006, and that due to the foreign exchange strategy it has in place, it managed to prevent movements in rates from having a "material impact" in its results.
"The group's strategy to innovate and develop relevant and unique ingredient solutions, especially for the beverage market, is gaining further momentum and looking to the financial year ahead, encourages our belief that the group is on track to build a successful, strong business for the longer term," Treatt said in a statement.
Treatt will report its full-year results for the year ended September 30 on December 8.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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