Treatt, the fragrance and ingredient supplier, has announced continued strong performance in its latest trading update.
Figures for the second half of the financial year show revenues expected to be up around 24 per cent on last year.
Strong growth and a continuing strong order book along with the impact of higher prices for raw materials, higher imventory levels and the new UK site take the company’s net debt to £11-£13 million. The yearly results are announced on November 28.
The business has performed exceptionally well according to the update and a relatively strong US dollar against the pound has had a positive impact on the company’s results.
The group’s focus on key growth drivers in the beverage sector including citrus, tea and sugar reduction solutions as well as markets in China and North America are showing clear signs of success.
Plans for the relocation of the Group’s UK site from Northern Way to the Suffolk Business Park in Bury St Edmunds are progressing well and work on the group’s US site expansion has commenced.
As previously stated the group has met its 2020 strategic objectives three years early and the Board is said to be looking forward to the next 12 months and beyond with confidence.