Manufacturer in Bury St Edmunds sees profits rise despite challenging year
A leading manufacturer of flavourings and ingredients for foods to perfumes has overcome a challenging year to send profits before tax soaring by 15 per cent.
Treatt, of Northern Way, which employs about 300 people, has reported increased profits of £8 million compared to £6.9 million the previous year.
Revenue also rose over the year by nine per cent to £85.9 million - up from £79.2 million last year, according to the firm’s preliminary results.
Daemmon Reeve, chief executive of the firm, which makes flavourings and ingredients for food products, beverages, cosmetics, perfumes and cleaning products, said: “Our success this year has not been easily achieved; notable new business wins have been hard won, retention of key business has often been challenging and yet the determination of our team to deliver on our objectives has never wavered.
He added: “Our strategy continues to bear fruit and gives us confidence that the business is increasingly well placed to capitalise on the opportunities ahead of us.
“This progress has only been possible because of the energy and creativity of our people who are working more closely together across the business to meet our customers’ needs. We will continue to manage and invest in the business ensuring that we build a business to deliver for our customers today and tomorrow.”
Our success this year has not been easily achieved.
Mr Reeve said two most notable highlights of the year had been a sugar reduction solution - reducing sugar in beverages while maintaining flavour - and an iced tea solution.
He said tea was increasingly being used as an ingredient in many beverages, including alcoholic drinks, and its perception as a healthy option made it an attractive target market for Treatt.
The company says it is also keen to move ahead with its plans for a £20 million investment in new premises and equipment and has identified a site in Bury St Edmunds.
But Mr Reeve said: “We are ready to progress this move as fast as is practically possible, but the release of land on our preferred site is currently in the hands of local developers and authorities as it part of a major new business development project in the east of England.”