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Treatt (TET)

Share Price:
Up 454.00p
Change Today:
12.00p
Market Cap:
267.93m

Treatt on track for strong year end

02 Oct 18

LONDON (ShareCast) - (Sharecast News) - Ingredients specialist Treatt said full-year profits remained on course after a solid second-half.
The AIM-listed group said it had performed well in the six months to 30 September, "and despite some foreign exchange headwinds, expects to report profit before tax and exceptional items for the [full] year in line with the board's earlier expectations".

Full-year revenues on a like-for-like basis are expected to increase by 9%. Last year Treatt reported sales of 109.6m. "All product categories have grown over the past 12 months, with the key growth drivers of citrus, tea and sugar reduction continuing to deliver," the firm told investors.

Treatt, which traces its origins back to 1886, makes ingredients for the flavour, fragrance and consumer goods markets. Based in St Edmunds, Suffolk, it also has operations in the US, China and Kenya.

As well as updating the market on sales, the group said it had made "significant strategic progress" in securing funding for its capital investment programme, and that its $14m American expansion was "progressing well, on time and on budget".

The group expects a year-end net cash balance of 9m-10m and an increase in working capital of more than 10m compared to last year.

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Market Data

Currency UK Pounds
Price 454.00p
Change Today 12.00p
52 Week High 508.00p
52 Week Low 388.00p
Volume 11,254
Shares Issued 59.01m
Market Cap 267.93m

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