Treatt Plc in Bury St Edmunds reports healthy set of six monthly figures with good growth forecast
Flavour and fragrance supplier Treatt Plc has posted a positive set of six monthly figures with a forecast that new business will outperform its 2020 target by three years.
The company in Northern Way, Bury St Edmunds, has announced upward trends and good order books for the six months ending March 31.
Revenues for the six months increased by 27 per cent to £51.8 million while operating profit increased by 59 per cent to £5.9 million.
Adjusted profit before tax rose by 63 per cent to £5.5 million and the adjusted basic earnings per share increased by 63 per cent to 7.69p.
All key product categories performed well with the group’s strategic focus on innovative citrus, tea and sugar reduction categories, as the key growth drivers.
CEO Daemmon Reeve said: “ These are a great set of half year numbers for which our staff all deserve huge credit. The quality and frequency of new business wins is gaining good momentum, and through the dedication and skill of our colleagues we are on course to meet our 2020 targets some three years ahead of schedule.”
The company employs 200 people locally with manufacturing facilities in the UK, USA and Kenya.
Mr Reeve added: “By anticipating and working closely with our customers, we are increasingly leveraging our position as a key supplier to major global corporations. Our well defined strategy will continue to focus on promoting long-term sustainable growth and with the investments planned in the UK and the US we will be able to build on these successes as we look towards the next exciting steps of our journey.
“New business wins and a strong performance across all our categories, particularly in sugar reduction, tea and citrus, which are areas of strategic growth, together with the impact of current foreign exchange rates, have combined in an order book which has increased materially compared with the same time last year.”
The company is aiming to move its business to a new 10-acre site at the Suffolk Business Park in late 2019.