March 17 2014 Latest news:
Monday, February 10, 2014
Flavour and fragrance ingredients company Treatt today reported a “solid” start to its new financial year.
The Bury St Edmunds-based firm said trading for the period from October 1 to February 7 had been in line with expectations for the time of year, including a number of new business wins.
“As reported in December, the group has made a solid start to the current financial year with Q1 trading in line with seasonal expectations,” Treatt said . “Q2 has similarly started off as expected, with momentum building towards the seasonally strong part of the financial year.
“Order books across the group continue to be ahead of last year, although not all of this growth will flow into the current financial year due to the long term nature of some contracts.
“Pleasingly, the strategic emphasis on added-value ingredient solutions has resulted in a steady flow of new business wins, whilst on-going efficiency improvements continue to take hold across the business.
“The board therefore confirms that whilst the Group remains in the early part of the financial year, it is currently on course to meet its expectations for profit before tax for the financial year ending 30 September 2014.”
Treatt, which manufactures and supplies a range of conventional, organic and fair trade ingredients for the flavour, fragrance and consumer goods industries, has been persuing a more focused sales strategy, seeking to engage more effectively with customers that offer pontential for sustainable growth.
In December, the group reported a 23% increase in underlying annual pre-tax profits to £6.2million, on turnover broadly flat at £74.1m.
Treatt’s annual general meeting takes place on Monday, February 24.