Overcast

Overcast

max temp: 10°C

min temp: 8°C

ESTD 1874 Search

Bury St Edmunds: ‘Mixed’ year for ingredients group Treatt

10:10 10 December 2012

A worker sampling from a drum of oil at Treatt

A worker sampling from a drum of oil at Treatt's Bury St Edmunds site

Archant

FLAVOUR, fragrance and cosmetics ingredients supplier Treatt today reported “a mixed year” as its annual profits came in ahead of initial forecasts.

shares

Bury St Edmunds-based Treatt reported a headline pre-tax profit of £5.06miliion for the year to September 30, down from £6.372m the previous year but still its second-highest ever total, on revenues largely flat at £74.009m against £74.518m,

Chairman Tim Jones said: “2012 has been a mixed year for the group. Nothwithstanding a weak start to the financial year, it is pleasing to report that results for the last year were significantly better than had been originally forecast.”

A weak final quarter in the previous financial year had continued into the first quarter of the year to September 2012, particularly at R C Treatt, the group’s UK operating subsidiary. Sales in the UK grew by 12% but demand was very weak across the rest of Europe, with sales in France and Germany under particular pressure.

The group’s Treatt USA business had “another good year”, although its overall contribution was lower due to the absence of profits on stock seen the previous year, and it had been a “steady” for the Earthoil subsidiary, which recorded a small profit for the second year running, he added.

Bottom-line pre-tax profits came in at £4.462m, against £6.372m, largely reflecting a one-off charge of £598,000 representing compensation for loss of office for former group managing director Hugo Bovill, who left earlier this year.

Treatt announced in July that it had begun talks with Mr Bovill “with a view to him stepping down from the board and leaving the business”.

Daemmon Reeve, formerly chief executive of Treatt USA, took over as group managing director on an interim basis and was formally appointed to the role in August. Mr Bovill was subject to a two-year notice period.

The board is proposing a final dividend of 10.4p per share, lifting the total dividend for the year by 6.9%, from 14.5p to 15.5p per share.

shares

0 comments

The scene of a thatch fire in Stoke-by-Nayland

A picturesque country cottage is still standing today despite a fire ripping through its thatched roof.

An Abellio Greater Anglia train

Rail services between London Liverpool Street and Norwich have been cancelled after a train fault at Diss.

Ipswich Town v Arsenal  FA Cup Final at Wembley 1978 - 

Kevin Beattie and Allan Hunter

It is an impassioned debate which never fails to invigorate the East Anglian derby.

Colchester Half-Marathon. Starting and finishing at Weston Homes Community Stadium.

Competitors braved the dismal morning weather today to take part in the Colchester Half Marathon.

The scene after the thatched roof fire in Stoke by Nayland - Picture credit - Suffolk Fire and Rescue Service

Ten fire crews tackled a thatched roof blaze in a Suffolk village overnight.

Sir John French: a colourful character and respected soldier

We’ve heard about the Suffolk men who fought at the battle of Neuve Chapelle.

Ipswich Crown Court

A 19-year old man who met up with a 13-year-old girl and exchanged text messages with her despite being given a police caution for kissing her several months earlier has been sentenced to 21 months youth detention.

St Edmundsbury Cathedral overlooking colourful displays in the Abbey Gardens

Suffolk’s most important religious building has been awarded a £300,000 Government grant to pay for urgent roof repairs.

Josephine Murphy

An 86-year-old woman who had gone missing from Clacton has been found safe and well

Aftermath of a barn fire in Holton.

A television antiques expert has appealed for help rebuilding his eco-friendly arts centre in Suffolk after a major blaze destroyed the historic sawmill that was to be its showroom and workshops.

Most read

Topic pages