Bury St Edmunds: Treatt on track to meet expectations for full-year profits
PUBLISHED: 15:32 01 October 2014 | UPDATED: 11:03 02 October 2014
Flavour and fragrance ingredients company Treat said today that its revenues and pre-tax profit for the year to September 30 would be in line with its expectations.
In a final update ahead of its annual results, due out on December 9, the Bury St Edmunds-based company, a member of the EADT/EDP Top100 listing of the 100 biggest companies in Suffolk and Norfolk, said the year had been one of “steady progress”.
It added: “The board can also confirm that the FX (foreign exchange) strategy which is in place has resulted in movements in FX rates during the year not having a material impact on reported results.
“Looking to the year ahead, the level of order books across the group are satisfactory. Whilst raw material prices are expected to remain high, which in turn may impact upon margins, the group expects to continue to see the benefits of its strategy of focusing on selling added-value ingredient solutions to leading FMCG (fast-moving consumer goods) and beverage businesses, whilst maintaining a tight control of costs.”
In May, Treatt announced a near-40% increase in first-half profits to £2.8million but said its business remained seasonally biased towards the second half.