Bury St Edmunds-based Treatt posts boost in profits - but may have to relocate in the future

Treatt chief executive  Daemmon Reeve

Treatt chief executive Daemmon Reeve

0
Have your say

Bury St Edmunds essential oil and flavouring company Treatt plc has posted increased profits and revenue in its end of year report.

But the firm also revealed that it will either have to complete a ‘comprehensive re-development’ of its existing site on Northern Way, which it has been based at for 40 years, or move to new premises within the area.

Today, the group revealed its revenue has increased by seven percent this year up to £79.2 million with group operating profit increasing by 10 percent to £7.6 million.

The firm’s dividend has also increased by four percent to 3.84p a share, up from 3.70p last year.

Commenting on the results, the Group’s CEO Daemmon Reeve said: “It is pleasing to see the Group’s strategy is delivering consistent growth for our shareholders.

“Our strategy is still in the early stages of delivering a re-shaped business; there is much to do but I am encouraged by the process so far.”

On the possible relocation of the business, Mr Reeve said: “We continue to explore a number of options from re-developing the existing site to a brand new facility on a ‘greenfield’ site.

“The potential costs of such a move is likely to be considerable, but we believe that the long-term benefits to the business will be significant.

“We also recognise that, if we chose to do nothing, we would still need to spend as significant sum on infrastructure maintenance and investment in our current site anyway over the next year or two in order to meet both the regulatory and growth needs of the business.”