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Treatt (TET)

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Treatt H1 profit and revenue rise, confident over full year

07 May 19

LONDON (ShareCast) - (Sharecast News) - Treatt posted a rise in first-half profit and revenue on Tuesday as it expressed confidence over its full-year performance.
In the six months to the end of March 2019, adjusted pre-tax profit increased 7.3% to 6.2m on revenue of 56.6m, up 5.7% from the same period a year ago. The company upped its dividend per share by 6.3% to 1.70p.

Treatt, which manufactures and supplies ingredient solutions for the flavour, fragrance, beverage and consumer products industries, said the fruit and vegetables, tea and sugar reduction categories performed strongly.

Meanwhile, the citrus core product segment continues to lead the contribution to revenue despite a cyclical fall in raw material prices, while the speciality chemicals category outperformed management expectations at the half year.

Group chief executive Daemmon Reeve said: "Once again it is pleasing to report encouraging strategic progress. All categories have performed well despite cyclical weakness in some citrus raw material markets with particularly encouraging growth in our higher margin tea, sugar reduction and fruit and vegetable categories supporting the strong trend towards better for you and clean label, more natural beverages.

"The past six months have seen much work across the business strengthening our teams, building and planning infrastructure to drive future growth, establishing Treatt in new growth markets and expanding our offer in established markets. These actions were achieved whilst improving profitability and margins and give the Board confidence that the business is well placed to deliver on its strategic objectives over the coming years."

With order books "comfortably" above the previous year, Treatt said it remains confident of meeting its expectations for the financial year ending 30 September 2019.

At 0920 BST, the shares were down 2% at 401.70p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 428.00p
Change Today 13.00p
52 Week High 480.00p
52 Week Low 388.00p
Volume 104,825
Shares Issued 59.01m
Market Cap 252.58m


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Ex-Div 04-Jul-19 07-Feb-19
Paid 15-Aug-19 21-Mar-19
Amount 1.70p 3.50p