2nd Aug 2007 16:56
Treatt PLC02 August 2007 TREATT PLC TRADING UPDATE YEAR ENDED 30 SEPTEMBER 2007 Treatt PLC (the 'Group'), the manufacturer and supplier of conventional, organicand ethically-traded ingredients for the flavour, fragrance and cosmeticindustries today provides an update on trading for the year ended 30 September2007. In the interim results announcement for the six months to 31 March 2007,announced on 21 May 2007, the Board stated it was too early to be certain thatfull year profits would meet market expectations. The Board also detailed theimpact of the weakening US Dollar on the Group's profits for the period. Sincethen, the US Dollar has continued to weaken and Treatt USA's sales have beensteady and not grown as much as expected. Profits for the year are thereforecurrently expected to be approximately GBP0.6 million below market expectationsof £3.3 million. Of this shortfall, GBP0.4 million is due to the weaker USDollar, after hedging. The Group's main operating subsidiary in the UK, R.C. Treatt, is trading welland Treatt USA's sales are expected to improve over the coming months. Indeed,across the Group, order books for 2007 and 2008 are currently at record levels.In addition, the acquisition of 50% of Earthoil in February 2007 provides theGroup with significant opportunities in the markets for organic and ethicallytraded essential and vegetable oils. The Group intends to announce its preliminary results for the year ended 30September 2007 on 10 December 2007. For further information please contact: Treatt PLC 01284 702500 Hugo Bovill, Managing Director Richard Hope, Group Finance Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Treatt