Treatt is a world-leading manufacturer and supplier of flavour, fragrance and cosmetic ingredients. Our diverse product portfolio is the result of over 125 years of technical expertise and experience in the global sourcing of flavour and fragrance raw materials. Through our cosmetics division, Earthoil, we also offer naturally-derived cosmetic ingredients, specialising in organic and fair trade, reflecting our commitment to ethical and sustainable practices.

http://www.treatt.com/

Interim Results

HIGHLIGHTS of our half year:

· New strategy showing early signs of success

· Revenues for the six months were £33.6 million (H1 2012: £36.0 million)

· EBITDA up by 25% to £3.0m (H1 2012: £2.4m)

· Profit before tax rose by 29% to £2.0m (H1 2012: £1.6m)

· Earnings per share increased by 40% to 14.1 pence (H1 2012: 10.1 pence)

· Interim dividend raised by 8% to 5.5p (2012 interim dividend: 5.1p)



Commenting on the results, Group CEO Daemmon Reeve said:

"It has been an exciting and busy six months for the business, and these results are a reflection that this effort and focus is translating into profits. We could not do this without the great team we have across all our operations. Treatt is well positioned to take advantage of the many opportunities ahead of us."




http://www.moneyam.com/action/news/showArticle?id=4592837

Held for a number of years and have good feeling about TET. Overpaid imo for Earthoil acquisition a few years ago and my understanding is that former CEO Hugo Bovill (and controller of around 29%) has said he is now a willing seller. Change of strategy should be very productive and I hope new CEO gets opportunity to show what they can really do. Gearing a bit high for me, but should reduce in second half. Locked away in my ISA. but always dyor

Partridge looking at their numbers (in isolation) they appear to have a cash flow problem, inventories, receivables and borrowings far too high in relation to sales?

Treatt: Investec increases target price from 410p to 470p and upgrades from hold to buy.

Fair point Halifax, although this is a somewhat unusual business. Trade receivables/sales ratio only marginal slippage, but big increase in inventories and more rapid payment of trade creditors meant small negative cash flow from operations. Second half is tradtionally stronger and cash will need to be a big focus for them.

Thanks for the info h and P.

Just found this from IC - New business wins and margin improvement

However, the key point for me in the company's interim results for the six months to end-March 2013, which were released today, was the fact that the company has been "winning new business with large multinational consumer goods groups across a wide range of new and existing ingredients". Sales of tea and citrus ingredients have been performing well and the product mix is now increasingly targeted towards added-value manufactured ingredients, which have been the focus of research and development spend. There has been a particular emphasis on the beverage market.

As a result, gross margins improved from 20 per cent to 22.65 per cent in the latest six-month trading period and with the benefit of tight cost control - overheads fell 9 per cent to £5m - operating profits before currency movements soared 55 per cent from £1.65m to £2.55m.

True, revenues fell from £36m to £33.6m, reflecting lower commodity prices, but, importantly, with an increasing amount of sales being made to multinational companies, the momentum from the first half has fed through in the third quarter. Moreover, further cost savings are expected to come through in the second half.



Analyst upgrades

Ordinarily, this upbeat statement would have led to analyst upgrades for the full year to end-September 2013. However, Nicola Mallard at Investec Securities is being cautious and is maintaining her pre-tax estimate at £5m for the 12-month period, to produce EPS of 34.7p, even though first-half pre-tax profits jumped 29 per cent to £2m and EPS soared 40 per cent to 14.1p. From my lens, the risk to forecasts looks to the upside. Still, even on this conservative basis, the shares are only priced on 12.6 times earnings estimates and, with the interim dividend raised 8 per cent to 5.5p, the rolling 12-month yield is 3.6 per cent. The dividend is paid in October and the ex-dividend date is 11 September.

Investec did, though, raise its forecasts for both the 2013-14 and 2014-15 financial years by 8 per cent and 13 per cent, respectively. The new estimates are for pre-tax profits to rise to £5.6m in the 12 months to September 2014, to produce EPS of 38.7p. For the following year, profits are forecast to rise again to £6.1m, to produce EPS of 42.9p. The dividend forecasts are 16.4p a share for the current financial year, 17.2p for 2013-14 and 18.2p in 2014-15. On this basis, the forward dividend yields are 3.7 per cent, 3.9 per cent and 4.1 per cent. Moreover, the prospective PE ratio drops to only 11.2 in 2013-14 and a miserly 10 in 2014-15. That's hardly an exacting valuation for a company that is starting to boost margins by focusing sales on value-added lines and is clearly winning new business by doing so.

Treatt also has a lowly geared balance sheet - net debt of £17m only equates to 62 per cent of shareholders' funds of £26.1m - and has a conservative accounting policy with £12m of property and plant in the accounts at cost.



Share price breakout looms

Interestingly, Treatt's share price is at an interesting juncture, too. In fact, having hit a high of 440p in mid-February, and again in mid-March, the price is now on the verge of signalling a major triple-top breakout on the point-and-figure chart, as well as a swing buy signal.

With full-year earnings forecasts looking conservative, the share price momentum looks well underpinned given the potential for further good news on sales later this year. The next trading update is in mid-August. In my view, on a bid-offer spread of 430p to 440p, the shares are a strong trading buy and my conservative three-month target price is 500p.

dc/Halifax Should perhaps have expanded post 6 to say that main item of stocks is likely to be the commodity orange oil (main business is distillation of this to provide ingredients for use in wide range of industries). Orange oil price varies widely from time to time, so same volume can have big difference in cost from one year to the next (either way). Treatt have been good at managing these price fluctuations and seem to have price agreements with their customers to reflect it - they have been around over 100 years and know what they are doing. For same longevity reason, they have property/plant assets in the books at well below replacement cost, so true net asset position may well be higher than it appears at first galnce.

Thanks p,


Director/PDMR Shareholding


http://www.moneyam.com/action/news/showArticle?id=4594179

Treatt PLC (TET:LSE) set a new 52-week high during Tuesday's trading session when it reached 480.00. Over this period, the share price is up 28.30%.

Trading Statement

RNS


RNS Number : 5956F

Treatt PLC

28 May 2013




28 May 2013



TREATT PLC

TRADING UPDATE FOR YEAR ENDING 30 SEPTEMBER 2013

Treatt PLC (the 'Group'), the manufacturer and supplier of conventional, organic and fair traded ingredient solutions for the flavour, fragrance and consumer goods industries today issues the following trading update for the year ending 30 September 2013.

Following the recent announcement of our half year results, which showed pre-tax profits up 30% and EPS up 40%, momentum in the business has continued to build towards a very strong Q3. We are delighted to report that Group sales for May 2013 are expected to reach an all-time high and order books for the remainder of Q3 and for Q4 now look promising. This positive commercial environment, coupled with the continuing impact of the Board's new strategy, and the lower overheads and improved margins it is delivering, means that the Board expects the Group to exceed its expectations for the current financial year ending 30 September 2013.



Looking further ahead, the strategic creation of a global sales structure, which is clearly focused on selling value-added ingredient solutions with its emphasis on multi-national consumer goods companies, is already leading to significant new opportunities for growth. We are particularly focused on developing new and exciting products for the beverage sector where the possibilities for growing sales are material. The continuing transition of product mix towards added-value manufactured ingredients should enable the Group to target higher margin business. The Board believes that this, coupled with significant cost saving measures, some of which have already been implemented but have not yet delivered their full-year impact, should deliver the long-term sustainable growth in earnings intended.



Consequently, the Board believes that the momentum now in the business and the benefits from the initiatives outlined above will extend beyond the current financial year and that the prospects for the business for the years ending 30 September 2014 and 2015 are also improved.



The Company intends to release its Interim Management Statement for the second half year in July 2013 and the full year results for the current financial year will be announced on 9 December 2013

Excellent trading update. Change of CEO/strategy bearing fruit much quicker than expected. Retain good feel abot these, despite the rise. Pity they are very illiquid to deal. Always dyor.

Treatt: Investec takes target price from 470p to 610p retaining a buy recommendation.

Treatt soars after update
Tue 28 May 2013


Treatt soars after update LONDON (SHARECAST) - Shares of Treatt, an ingredients supplier to the flavour and fragrance industries, soared after it said it expects to exceed company expectations for the current financial year.

The group's shares spiked earlier this month after it revealed a 30% hike in pre-tax profits and a 40% surge in earnings per share. In today's update it said momentum has continued.

Treatt said sales for May 2013 are expected to reach an all-time high and order books for the remainder of the third and fourth quarter now look promising.

"The positive commercial environment, coupled with the continuing impact of the board's new strategy, and the lower overheads and improved margins it is delivering, means that the board expects to exceed its expectations for the current financial year," it said in a company statement.

"Looking further ahead, the strategic creation of a global sales structure, which is clearly focused on selling value-added ingredient solutions with its emphasis on multi-national consumer goods companies, is already leading to significant new opportunities for growth," it added.

Treatt said it would focus on developing new products for the beverage sector where the possibilities for growing sales are 'material'.

It added that momentum now in the business and the benefits from significant cost saving measures will extend beyond the current financial year and that the prospects for the business for the years ending September 30th 2014 and 2015 are also improved.

Its shares jumped 13.33% or 65.00p to 552.50p at 12:30 in London.

Well done here!

Thanks skinny, needs to slowdown.

Investment summary: Appealing flavours

http://www.edisoninvestmentresearch.com/researchreports/Treatt280513QV.pdf

On fundamentals, still not expensive imo. This is a niche little business, historically run as almost as a private company (Bovill family) which just happened to have a listing. New CEO appears more commercially orientated. Improved margins, lower overheads mean that for a manufacturer like this I would think that if they should be capable of at least 10% of revenues in pre tax profit - and possibly more. Sales currently also rising, so not out of the question they will reach £100M in next few years, which would give eps perhaps 65p. Asking quite a lot, maybe, but after holding quite a few years I am not selling mine any time soon. Cash was an issue in the first half and will be scutinised when full year figures come out later in the year. Just hope an opportunistic predator does not come along too soon - Bovill family has said their stake (around 29% in all) is up for sale, but thier expectations must have risen after the last few weeks. Always dyor.

Thanks for the update partridge, very interesting.

Treatt PLC (TET:LSE) set a new 52-week high during today's trading session when it reached 588.00. Over this period, the share price is up 72.82%.Share price forecast




The one analyst offering a 12 month price target expects Treatt plc share price to rise to 610.00 in the next year from the last price of 566.00.

:-))

Covered in this weeks IC- A real Treatt

We didn't have long to wait for shares in Treatt, a world-leading manufacturer and supplier of flavour, fragrance and cosmetic ingredients, to re-rate. IN fact, following two weeks since an upbeat trading statement on 28 May, shares in the company have soared to a record high and have produced a bumper 24% return in the two weeks since IC highlighted the investment. As a result, analyst Nicola Mallard at investec securities has massively upgraded her pre-tax profit estimate for the 12 months to end September from £5m to £6m. On this basis, previous EPS forecasts of 34.7p are lifted to 41.9p. IC has a new fair value target price of 600p, to potentially offer a further 10% upside.

Well done on your short term profit dc. Interesting how strategies differ. I belong to the "buy and hold" school of Buffett, which has stood me in very good stead on the likes of Halma, AG Barr and PZ Cussons. Had an interest in Treatt for over 10 years, collecting decent divis and patiently waiting for it to take off. It is still early days of the new broom CEO, but I bought these for my two sons ISAs last year and told them not to sell for at least ten years! IC target is in my view short term - long term might be a lot better, if they stay independent, but always dyor.

Thank you p. I think the investor who purchased these late 2008 must be very happy now.(Below 180p with a constant climb to the present sp). You have to stick to the strategy that suits you. If only we had a crystal ball.
Very nice to be investing for your sons future and I am sure this company will indeed do very well in the future. I will add any news to the thread to keep investors up to date. Thank you p for your knowledge in this company.

Illiquid, but only buy so far today gone through at 600p. dc - IC target may be reached sooner than they expected! Quite heavily invested here by my standards, so will wait for IMS next month before considering more. Comment recently about the use of the stevia plant as a natural sweetener to replace sugar in beverages and from their website artices some interesting products from Treatt to go alongside. Warm feeling about this remains, but always dyor.

Still rising, despite general doom amd gloom on the market. Hopeful that IMS due next month will show the business capable of eps 40p in year to Sept 2013 - and better to come. If that proves to be the case, still not expensive imo, but always dyor.

Treatt: Investec downgrades from buy to hold with a target price of 610p.

Bovill Family Concert Party Placing

http://www.moneyam.com/action/news/showArticle?id=4630088

Sale of Interest in Treatt plc

RNS


RNS Number : 0450J

The Bovill Family

10 July 2013





10 July 2013

Sale of Interest in Treatt plc

As announced on 19 March 2013, the Bovill Family has been exploring ways in which to realise the intrinsic value of their shareholding in Treatt plc ("Treatt" or the "Company"). The Bovill Family announces today that, with assistance from its financial adviser Grant Thornton UK LLP and in collaboration with the Company and its financial adviser Investec Bank plc, the Bovill Family has successfully disposed of 2,950,992 Treatt shares at a price of £5.20 per Treatt share.

As also announced on 19 March 2013, the Bovill Family has been co-operating with Bjornstad and Jendal A/S in relation to the sale of their collective interests in Treatt shares. The Bovill Family are aware that Bjornstad and Jendal A/S has also disposed of its entire shareholding in Treatt today.

The Bovill Family believe that their stewardship of the business has built a strong foundation for Treatt and positioned it well for the next stage of its development.

Thanks dc. Personally, I am pleased that this stake has nor been acquired as prelude to opportunistic bid and see drop in price as buying opportunity, but always dyor.

Director Deals - Treatt PLC (TET)

BFN

Richard Hope, Financial Director, bought 10,552 shares in the company on the 11th July 2013 at a price of 575.00p. The Director now holds 26,372 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Reassuring that the FD seems to agree! Price seems to have recovered all last week's drop.

Dated last Friday, may be of interest for those invested in Treatt


Treatt FD treats himself to large helping of shares

Fri, 12 July 2013

Date: 16:58


Richard Hope, Group Finance Director of flavour and fragrance specialist Treatt, has forked out almost £61,000 on shares in the company as it looks to begin a new chapter.

On Thursday Hope purchased 10,552 shares at a price of 575p per share, increasing his stake by two thirds to 0.25%, not long after it touched an all-time high.

Changes are afoot at FTSE Fledgling-listed Treatt, with new Chief Executive Officer Daemmon Reeve at the helm for just over a year now, and the Bovill family having just sold almost all their 29% stake.

On Wednesday, the Bovills, which have been associated with the company since 1924, and fellow shareholders Bjornstad & Jendal, a Norwegian ingredients company, placed their combined third of the company’s shares with institutional investors at a price of 520p per share.

Giles Bovill, sales director at the company, has retained a small stake of 21,999 shares.

Chairman Tim Jones said: "The board is delighted that this matter is resolved and the company can concentrate on delivering the benefits of its new strategy."

New broom Reeve has put in place a new focus on customers and products that offer long term sustainable profit growth, together with investment in research and development, and resources to support growth.

According to a recent analyst note from Investec - issued after an encouraging trading update from the firm - many investors in the consumer space will not have come across Treatt, as it is classified by the FTSE in chemicals sector.

“The new strategy has been successfully employed in Treatt’s US operation, where returns have responded favourably in recent years”, says analyst Nicola Mallard.

“Pushing this across the broader group has brought some early wins and resulted in the board’s confidence on the 2-3 year outlook.

Mallard has predicted “steady top line growth, stable margins and good overhead control”.

Shares in the company have been as low as 305p in the last 12 months but today closed 3.52% higher at 588.5p

Interim Management Statement

RNS


RNS Number : 6133K

Treatt PLC

01 August 2013










1 August 2013



TREATT PLC

Q3 Interim Management Statement for year ending 30 September 2013

Treatt PLC (the 'Group'), the manufacturer and supplier of conventional, organic and fair traded ingredient solutions for the flavour, fragrance and consumer goods industries today publishes its Q3 Interim Management Statement. This statement relates to the period from 1 April 2013 to 31 July 2013.

Following the trading update published on 28 May 2013, the Board is pleased to confirm that trading in Q3 was strong, with sales up 14% compared to the same quarter last year and, as expected, Group sales for May 2013 reached an all-time high.

Order books for the remainder of the financial year remain healthy, with the total Group order book being 11% up on a year ago. The Board therefore remains confident that the Group is on course to meet its expectations for the year ending 30 September 2013.



Strategically, the Group continues to benefit from transitioning its focus towards delivering value-added ingredient solutions for the beverage and consumer goods markets with the greatest opportunities for growth coming from multi-national consumer goods companies. This, coupled with a heavy emphasis on cost control, is putting the business in very good shape as it looks ahead to FY14.



Treatt Plc's results for the year ending 30 September 2013 will be announced on 9 December 2013.

1 Aug Investec 640.00 Hold

Ex dividend Wed 11 Sept 5.5p

Final Results

RNS


RNS Number : 9742U

Treatt PLC

09 December 2013









9 December 2013



TREATT PLC


FINAL RESULTS


FOR THE YEAR ENDED 30 SEPTEMBER 2013






Treatt plc (the 'Group'), the manufacturer and supplier of conventional, organic and fair trade ingredients for the flavour, fragrance and consumer goods industries, announces today its results for the year ended 30 September 2013.






HIGHLIGHTS for the year:




· Group revenue steady at £74.1 million (2012: £74.0 million)


· Group operating profit increased by 23% to £6.9 million (2012: £5.6 million)


· Adjusted EBITDA* up 20% to £8.3 million (2012: £6.9 million)


· Adjusted profit before tax* increased by 23% to £6.2 million (2012: £5.1 million)


· Dividend increased 19% to 18.5p per share (2012: 15.5p)


· Adjusted basic earnings per share* up 26% to 43.2p (2012: 34.4p)


· Net assets per share increased to £2.62 (2012: £2.48)




Commenting on the results, Group CEO Daemmon Reeve said:

"These figures show clear improvements in Treatt's performance as a result of the new strategy of focusing on core markets and value-added products. Early signs for the current year are encouraging but there remains a lot to do; driving growth, bearing down on costs and creating efficiencies across the business."



* excluding exceptional items - see note 4

9 Dec Investec 685.00 Buy

Edison - Valuation: An attractive investment opportunity
At 12.4x calendarised 2015 P/E, Treatt is at a c 19% discount to its peer group of ingredients companies, and a two-year EPS CAGR (FY13-15e) of 7.8%. There is scope for upgrades if the benefits of the strategies for both top-line growth and margin come to fruition, driven by higher value added contract wins, continued operational savings and synergies from operating from one cross-functional global platform. As a result, we believe that Treatt’s current share price is undemanding and reflects an attractive investment opportunity.

Climbing -

No need for panic - five for one share split takes effect today. Seems to have encouraged some buyers ahead of half year results to end of March due soon.

Half Year Results

RNS


RNS Number : 5183H

Treatt PLC

20 May 2014






TREATT PLC

HALF YEAR RESULTS ANNOUNCEMENT

SIX MONTHS ENDED 31 MARCH 2014



Adjusted earnings per share increased by 37% as the Group continues to make progress towards long-term objectives



Treatt PLC, the manufacturer and supplier of ingredient solutions for the flavour, fragrance and consumer goods industries announces today its half year results for the six months ended 31 March 2014.



HIGHLIGHTS of our half year:

· Revenues for the six months up 11% to £37.1 million (H1 2013: £33.6 million)

· Adjusted EBITDA1 up 27% to £3.8m (H1 2013: £3.0m)

· Adjusted profit before tax1 rose by 39% to £2.8m (H1 2013: £2.0m)

· Adjusted basic earnings per share1 increased by 37% to 3.87p (H1 2013 restated2: 2.82p)

· Interim dividend raised by 13% to 1.24p (2013 interim dividend restated2: 1.10p)



Commenting on the results, Group CEO Daemmon Reeve said:

"We continue to focus our efforts on long term success. Our strategy is gaining good traction and, coupled with the effort and focus of our teams across the globe, the results are both translating into profits today and laying the groundwork for opportunities tomorrow."



1 excluding exceptional items - see note 6

2 restated following five for one sub-division of share capital - see note 9

I hope the charts above are wrong!

5 for 1 split Skinny. It would be nice if one of the clever chaps on these boards could change the charts. This company has really lived up to its name last few years and is still quite small, with lots of potential imo, but always dyor.

Partridge - see the managed bugs thread - the above was an attempt at humour! :-)

Thanks Skinny. Thought it unlike you - I really am becoming a grumpy old man!

Investec Hold 158.50 154.50 143.00 150.00 Reiterates

MIDAS SHARE TIPS: Treatt shares are full of zest and can bear fruit

By Joanne Hart, Financial Mail On Sunday

Published: 22:02, 31 May 2014 | Updated: 22:02, 31 May 2014


Tasty: Profits rose 250 per cent in the US under Daemmon Reeve



Treatt makes ingredients that add flavour and fragrance to food, drinks and toiletries. Controlled by a single family for nearly a century, the firm has emerged from its shell and is keen to expand at home and abroad. The shares are 158½p and should go far.


Treatt’s ingredients go into products from craft beer to yogurt and scented soap to hypoallergenic perfume.


In 1886, essential oils trader Richard Court Treatt founded the business in Bond Street, Central London, and it soon developed links around the world, importing lavender oil from Spain, clove oil from Zanzibar, bitter orange oil from East Africa and cinnamon leaf oil from the Seychelles.


The firm then moved from trading oils to blending and distilling them, working with a range of other ingredients, such as low-calorie sweeteners.


Some of its products are natural, some are produced with additives to create smoky flavours or particular aromas. In every case, however, Treatt has developed a way of making its flavours and fragrances taste and smell the same, even though the raw ingredients – citrus fruit, nuts, flowers – vary naturally from season to season.


This is vital for food, drinks and cosmetics makers, and Treatt’s customers include many of the largest consumer goods groups, such as Nestle and drinks giant Diageo. The group is now based in Bury St Edmunds, Suffolk, but it works with companies in 70 countries and has offices and production sites in China, the US and Kenya.


Though the firm still bears the name of its founder, the family which most influenced the business were the Bovills, who took a seat on the board in 1924 and remained the largest single shareholder until they sold their 29 per cent stake last summer.


The firm is now chaired by social enterprise guru Tim Jones, who was behind the appointment of Daemmon Reeve as boss when the Bovills bowed out. Reeve has worked at Treatt for 20 years, most recently running the US division, where he increased profits by 250 per cent over three years.


Shareholders hope he can repeat this performance across the group. During the Bovill era, the company was run more like a family business than a listed firm, even though it joined the London Stock Exchange in 1989.


Reeve aims to develop closer relationships with large, global customers, particularly in fast-growing areas such as flavoured vodkas, speciality beers, iced tea and low-calorie food.


Early signs are encouraging. Last month the group unveiled a 39 per cent increase in half-year pre-tax profit to £2.8 million on turnover up 11 per cent to £37.1 million.


Brokers expect full-year profits to rise 8 per cent year-on-year to £7 million or more for the 12 months to this September, with turnover rising 5.5 per cent to £78.5 million and the dividend rising nearly 11 per cent to 4.1p.


The cost of some raw materials, particularly citrus oil, has risen sharply this year after poor lemon and lime harvests in Central and South America. As these are key ingredients, this puts pressure on profit margins.


Fortunately, the firm has many suppliers to offset the impact of seasonal volatility. Reeve has also put far more emphasis on cost efficiency than previous management, which is helping to improve earnings.


Midas verdict: Treatt is at the start of a new strategy to deepen relationships with big customers, develop innovative products and keep costs down. The firm is neatly positioned to respond to consumer enthusiasm for natural, healthy ingredients in food, drink and cosmetics and Reeve is determined to show his mettle. Buy.


Traded on: Main market Ticker: TET

Interim Management Statement

RNS


RNS Number : 5429N

Treatt PLC

29 July 2014






28 July 2014



TREATT PLC



Q3 Interim Management Statement

for year ending 30 September 2014



Treatt Plc (the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and consumer goods industries today publishes its Interim Management Statement as required by the Listing Authority Disclosure and Transparency rules. This statement relates to the period from 1 April 2014 to 25 July 2014.



Following on from the half year results announcement published on 20 May 2014, the Board is pleased to confirm that the Group performed well in Q3, which was in line with expectations. Indeed, Q3 in 2013 was particularly strong and therefore to repeat a similar performance in 2014 is encouraging.



The raw material costs of a number of key ingredients (particularly orange, lemon and lime oil) are currently high relative to historical levels. This means that with materially higher order books than at this time last year, year-end inventory levels are expected to be £3-4m higher than previously anticipated. We have also seen a continuation of the weakening of the US Dollar against sterling during the period. Due to the FX hedging policies which are in place, the impact on the reported results for the current year will not be material and will largely relate to the re-translation of Treatt USA's profits at a weaker USD/GBP rate as compared with last year. This translation effect is expected to approximate to a £0.3m lower profit for the current financial year than otherwise would have been the case.Looking to the longer term, the Group is continuing to progress well with its strategic emphasis on product innovation and its focus on added-value manufacturing, with notable progress being made in the year on some exciting new beverage ingredient solutions as the range of flavoured alcoholic and non-alcoholic beverages now available in bars, restaurants and supermarkets continues to expand. We are also pleased that, due to increased demand, we are doubling Earthoil's capacity in Kenya for the production of natural oil-based personal care ingredient solutions, and this capacity is expected to come on stream for Earthoil in mid-2015. It should be noted, however, that the impact of higher key raw material prices may present some challenges in terms of maintaining margins over the coming year.



In summary, therefore, with results remaining on track for the current year, the Board remains confident that the Group is on course to meet its expectations for the current financial year ending 30 September 2014.



Treatt Plc's results for the year ending 30 September 2014 will be announced on 9 December 2014.

09 December

Results for Year Announced

Final Results

RNS


RNS Number : 1735Z

Treatt PLC

09 December 2014



9 December 2014



TREATT PLC


FINAL RESULTS


FOR THE YEAR ENDED 30 SEPTEMBER 2014






Treatt plc (the 'Group'), the manufacturer and supplier of ingredient solutions for the flavour, fragrance and consumer goods industries, announces today its results for the year ended 30 September 2014.






HIGHLIGHTS for the year:




· Group revenue increased by 7% to £79.2 million (2013: £74.1 million)


· Group operating profit increased by 10% to £7.6 million (2013: £6.9 million)


· Adjusted EBITDA1 up 9% to £9.0 million (2013: £8.3 million)


· Adjusted profit before tax1 increased by 11% to £6.9 million (2013: £6.2 million)


· Dividend increased 4% to 3.84p per share (20132: 3.70p)


· Adjusted basic earnings per share1 up 15% to 9.95p (20132: 8.64p)


· Net assets per share increased to £0.55 (20132: £0.52)




Commenting on the results, Group CEO Daemmon Reeve said:

"It is pleasing to see the Group's strategy is delivering consistent growth for our shareholders. Our strategy is still in the early stages of delivering a re-shaped business; there is much to do but I am encouraged by the progress so far."



1 excluding exceptional items - see note 4

2 restated following 5 for 1 sub-division of shares

Treatt finance director treats himself

Thu, 08 January 2015


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Price: 137.50

Chg: 2.50

Chg %: 1.85%

Date: 16:55



The finance director of flavour and fragrance ingredients firm Treatt on Thursday increased his stake in the company as the shares dipped towards a 12-month low despite recent encouraging results out from the firm.
Richard Hope purchased 10,089 shares at an individual price of 137.9p, spending a total of £13,913 in the transaction.

December's final results showed the group increased its revenues by 6.9% to £79.2m during the year to September, while profit before tax rose 10.9% to £6.9m.

Chairman Tim Jones said at the time of the report: "The group's strategic progress is encouraging, with its increased focus on value-added and innovative ingredient solutions, particularly in the beverage sector."

Broker Investec was also impressed, noting that cash-flow was solid and even though the group took the opportunity to build inventory in some areas, its higher profits now "ensure the group should generate cash on an underlying basis".

Trading Statement
RNS
RNS Number : 8057I
Treatt PLC
30 March 2015

30 March 2015



TREATT PLC



Pre-close Trading Update for half year ending 31 March 2015



Treatt Plc (the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and FMCG industries today publishes a pre-close trading update for the half year ending 31 March 2015.



As reported in December 2014 the first half of the financial year began with a relatively slow Q1 which reflected the increased seasonality of the business. This seasonality relates to the Group's strategic focus on innovative ingredient solutions for the beverage market in particular. Trading has recovered well in Q2 in line with our expectations. Whilst underlying gross margins continue to improve, this improvement in the first half has been offset, as expected, by some adverse raw material price movements which have affected margins on some longer term fixed price contracts. Overall, H1 has seen solid revenue growth compared to the same period last year, with profits also up.



The first six months of this financial year have been encouraging with new business wins in a number of key market segments including the growing craft beer market, and in the sugar-reduction wellness arena for soft drinks. In addition, active concentration on our partnerships with global customers has enabled us to win added-value citrus and other flavour business across a range of beverage products.



Although movements in FX rates (particularly the US Dollar and Euro) have been more volatile than usual in the first half of the year, we have a number of hedging strategies in place which have mitigated any materially adverse impact which such movements could have caused.



The Board have continued to actively consider a number of options with regard to its UK plant and facilities at Bury St Edmunds which no longer meet the medium to long term needs of the business as we pursue our strategy towards becoming an ingredient solutions partner of choice for both global and local FMCG businesses. Whilst formal plans are some way off, we expect to be in a position to consult with key stakeholders to ensure their support as these plans come together over the next 6-9 months.



Looking ahead to the second half of the financial year, order books are encouragingly ahead of the same period last year and the Board believe the Group remains on course to meet its expectations for the full financial year ending 30 September 2015.



Treatt Plc's results for the half year ending 31 March 2015 will be announced on 19 May 2015.

Treatt upgraded by Investec
StockMarketWire.com
Investec has upgraded its recommendation on Treatt (LON:TET) to 'buy' from 'hold', after the ingredients company reported a "solid" first half performance.

The broker said: "Greater intra group collaboration has resulted in some new business wins in the beverage sector, an area of particular focus.

"These are part reflected in the stronger Q2 performance, but there should be more revenue benefit to come."

Analysts have left their target unchanged at 150 pence a share, implying 10 per cent forecast total return.

The shares have fallen 3 per cent in the past month, despite rising 3 per cent by early afternoon, today.



At 1:47pm: (LON:TET) Treatt PLC share price was +3.5p at 144p


Story provided by StockMarketWire.com

Nice chart.

free stock charts from uk.advfn.com

MIDAS-SHARE-TIPS-UPDATE-Food-Treatt-worth-keeping-despite-soggy-showing-does-not-reflect-recent-progress.html

Trading Statement
RNS
RNS Number : 0021B
Treatt PLC
02 October 2015

2 October 2015



TREATT PLC


Trading Update for year ended 30 September 2015


Treatt Plc (the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and FMCG industries today publishes a trading update for the year ended 30 September 2015.



The Board is pleased to confirm that the Group has performed well in the second half of the financial year and expects to report revenue and profit before tax for the year ended 30 September 2015 in line with its expectations.



Following a quieter start, momentum grew as the financial year progressed, ending with a stronger fourth quarter. Revenues in the year have been positively impacted by historically high market prices for certain key ingredients, particularly lemon and lime oil, although this has not resulted in higher gross margins.



The cash performance of the Group has been encouraging, with net debt ending the year at its lowest level since 2006. The Board is also pleased to report that the FX strategy in place has prevented movements in FX rates during the year having a material impact on results for the year.



The Group's strategy to innovate and develop relevant and unique ingredient solutions, especially for the beverage market, is gaining further momentum and looking to the financial year ahead, encourages our belief that the Group is on track to build a successful, strong business for the longer term.



Work continues toward facilitating the relocation of the Group's UK site as previously reported, and we anticipate providing an update on progress when we report our full year results for the year ended 30 September 2015 on 8 December 2015.

Ex dividend 03 Mar 2016 Treatt PLC (2.8 P)

Trading Update
RNS
RNS Number : 2613L
Treatt PLC
30 September 2016
 
30 September 2016
 
TREATT PLC
 
Trading Update for year ending 30 September 2016 and Conclusion of Earthoil Earn-out Dispute
 
Trading Update
Treatt Plc (the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and FMCG industries today publishes a trading update for the year ending 30 September 2016.
 
The Board is pleased to confirm that the Group has performed well in the second half of the financial year.  As we approach our financial year end, momentum in the business has continued and consequently the Board now expects to report profit before tax and exceptional items for the year ending 30 September 2016 comfortably above its previous expectations.  
 
The performance across the Group has been consistently strong throughout 2016.  The Group's focus on key beverage sectors including innovative citrus and sugar reduction solutions, as well as key markets such as China and North America, is showing encouraging signs of success. The cash performance of the Group has also been encouraging with net debt expected to end the year at its lowest level since 2005.  
 
The Group's strategy to manage foreign exchange risk has prevented currency fluctuations during the year from having a more material impact on the net results. Whilst the underlying impact of the strengthening US dollar is expected to reduce profits by approximately £0.5m in the current financial year, it is expected that these hedging policies will substantially reverse this figure in the first quarter of the next financial year.
 
Plans for the relocation of the Group's UK site are progressing well.  Discussions with landowners are now at an advanced stage and we anticipate providing a further update on progress when we report our full year results in November 2016.
 
Looking to the year ahead, with the continuing momentum being delivered by our Strategic Plan and the beneficial impact should the US Dollar to Sterling remain at its current rates, the Board believes that the business will continue to perform well and management look to the future with confidence.
 
Treatt Plc's results for the year ending 30 September 2016 will be announced on 29 November 2016.


 
Conclusion of Earthoil Earn-out Dispute
Further to the Group's announcement on 19 July 2016 regarding the dispute with the Sellers of the Earthoil Group regarding the Earn-out, the Group announces that it has reached final settlement with the Sellers which concludes all claims and litigation in respect of the dispute.
 
Payment of £0.9m1 will be made to the Sellers in full and final settlement of the remaining claim, which includes the substantive issues (being the alleged breaches of contract), associated legal costs incurred by the Sellers and interest, and brings the matter to a close.

Nice to see the end (finally) of the Earthoil dispute. Market seems to like the TU, for good reason. A very happy long term holder - just wish they would move to AIM to get IHT relief once held for two years.

Press tips seem to have given a boost and hitting all time highs this week. May pause for breath when funding for new factory is finalised and the project undertaken, but long term story remains intact and imo plenty of room to grow. Always dyor.

Final Results

Adjusted profit before tax up 11% and adjusted EPS up 8% as the Group delivers fourth consecutive year of record results
 
Treatt Plc, the manufacturer and supplier of ingredient solutions for the flavour, fragrance and FMCG industries, announces today its results for the year ended 30 September 2016.
 
HIGHLIGHTS of our year:
·   Revenues for the year up 2% to £88.0 million (2015: £85.9 million)
·   Operating profit increased by 10% to £9.5m (2015: £8.7m)
·   Adjusted profit before tax* increased by 11% to £8.8m (2015: £8.0m)
·   Return on capital employed of 24.6% (2015: 22.1%)
·   Free cash flow of £8.0m (2015: £6.2m)
·   Adjusted basic earnings per share* increased by 8% to 12.84p (2015: 11.94p)
·   Total Dividend per share increased by 8% to 4.35p (2015: 4.04p)
 
Commenting on the results, CEO Daemmon Reeve said:
"Building on our solid progress, the team has once again performed strongly to deliver on our objective of sustainable growth in profits.  The new financial year has started well.  We have much to do across the business to ensure we build on the work of our people over the past year and be able to take advantage of the many opportunities ahead of us."

29 Nov
Investec
290.00
Buy

Very solid results imo and weak sterling should help in 2017, with new year having "Started well". With net debt now almost eliminated, might be possible to consider funding for new factory without issuing new equity, but institutional interest should be strong if they do go down that route. Either way, prospects look sound - risk element in managing the new build/move, but the experienced management should hopefully be up to the job. Mine locked away in ISA. Always dyor.

Update on Site Relocation
RNS
RNS Number : 6487S
Treatt PLC
22 December 2016
 
 
 
 
 
22 December 2016
TREATT PLC
 
Update on Site Relocation
 
Treatt Plc ('Treatt', the 'Company' or the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and FMCG industries announces that, further to the updates on the Group's proposed site relocation set out in the Company's results for the year ended 30 September 2016 announced on 29 November 2016, it has conditionally exchanged contracts on a ten acre plot of land on Suffolk Park being developed by Jaynic in Bury St Edmunds.
Completion of the purchase, the price of which is subject to contractual confidentiality, is conditional upon the vendor being granted outline planning permission, application for which is due to be made shortly.
The purchase of the land will be funded from existing resources and it is not anticipated that further major capital outlay will be required until later in calendar 2017.

Trading Statement
RNS
RNS Number : 6079X
Treatt PLC
23 February 2017
 
23 February 2017
 
TREATT PLC
 
Trading Update for year ending 30 September 2017
 
Treatt Plc (the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance, beverage and consumer product industries today publishes a trading update for its financial year ending 30 September 2017.
 
Following the AGM trading update published on 27 January 2017, the Board is pleased to confirm that momentum has gathered pace, with the results for the six months ending 31 March 2017 ('Half Year') now expected to show substantial progress compared with the prior year.  This has resulted from a combination of strong growth to revenues (currently estimated to be up in excess of 20% over the comparable period last year) driven by both new business wins and growth with existing customers, combined with improved product margins as we continue to add value by moving up the value chain.
 
All of our key product categories have delivered strong revenue growth since the start of the financial year, with citrus and sugar reduction solutions producing particularly strong performances.  Earthoil, the Group's personal care ingredients division, also continues to perform well as recent investments begin to deliver returns.  As we enter the seasonally busiest time of the financial year, it is encouraging to see order books for the remainder of the current financial year, and into next year, across the Group materially up on a year ago.
 
The Group's strategy to manage foreign exchange risk is designed to prevent currency from having a material impact on the net results. During the period, the GB Pound/US Dollar exchange rate has been relatively stable and, therefore, the expected reversal of last year's FX loss of £0.5m should positively impact on the results for the Half Year. This includes the retranslation benefits from the Group's US subsidiary Treatt USA.
 
The strength of the Group's order book and the impact of higher raw material prices, has resulted in an expected increase to net debt which is expected to be approximately £10m-£12m at the Half Year compared with £8.4m at the same time last year.  Nonetheless, with confidence for the usual pattern of strong cash inflow in the second half of the year, it is expected that overall net debt will fall significantly by our financial year end.
 
Plans for the relocation of the Group's UK site continue to progress well. As previously announced, contracts were exchanged in December 2016 (subject to outline planning consent) on a 10 acre plot of land on the new Suffolk Business Park in Bury St. Edmunds.
 
Outlook
With the continuing momentum being delivered by our 2020 Strategic Plan, strong revenue growth, and the beneficial impact from higher product margins, the Board now believes that profit before tax for the financial year ending 30 September 2017 will substantially exceed its previous expectations.
 

Unusually bullish update yesterday - TET normally yends to under promise and over deliver. Expansion in beverages paying off and enciuraging to see "reduced sugar solutions" particularly strong, alongside the more traditional citrus business. With order books into the next financial year looking healthy, little wonder the price leapt yesterday - will they now raise some equity to help with the new factory build? A classic long term ISA share imo, but always dyor.

And a follow up statement today, things even better and expectations for this year revised upwards again.

Trading Statement
RNS
RNS Number : 9415A
Treatt PLC
30 March 2017
 
30 March 2017
 
TREATT PLC
 
Trading Update for the half year ending 31 March 2017
 
Treatt Plc ('Treatt' or the 'Group'), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance, beverage and consumer product industries today publishes a trading update for the half year ending 31 March 2017.
 
In the latest trading update announced on 23 February 2017 the Board reported that momentum in the business had gathered pace and consequently the results for the six months to 31 March 2017 ('Half Year') were expected to show substantial progress when compared to the prior year. The Board also reported that it believed that profit before tax for the full year ending 30 September 2017 would substantially exceed its previous expectations.
 
Since that announcement, trading has continued to be strong and whilst the Group has benefitted from the effect of a stronger US Dollar, underlying revenue growth continues to gain momentum, with Half Year revenue expected to show an increase in excess of 25% over the prior year period, of which approximately 10% can be attributed to the effects of currency movements.
 
New business wins and a strong performance across all our categories, particularly in Sugar Reduction, Tea and Citrus, which are areas of strategic focus, 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.
 
As announced on 23 February 2017 the impact of higher raw material prices, increased order book and the strengthening of the US Dollar has resulted in net debt at the Half Year increasing to approximately £12m, being some £3.6m higher than the same time last year. Historically, the Group reports a net trading cash outflow in the first six months of the year and a net trading cash inflow in the second half of the year, and the Board would expect a similar pattern in the current financial year.
 
Outlook
Following a strong performance across the Group in March 2017 and clear signs that the momentum described above, which is being delivered by our 2020 Strategic Plan, is continuing into the second half of the current financial year, the Board now expect to exceed its revised expectations for the full financial year ending 30 September 2017. 
 
The Board expects to announce Treatt's Half Year results on 9 May 2017.
 
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
 

Tuesday 9 March interims

Splendid set of interims already flagged up. This is still quite a small company and whilst recent performance reflected in share price rise, there could be some way to go yet over the next 5/10 years. Been a great performer in my ISA and staying there, but always dyor.

A favourite of John lee who writes in weekend FT

Nice 7.5% rise.

Another one doing well for you DC!

Yes well done - another share I hate :-)

😃

Cheers . :-))

sold, I have the same view as IC which is they are getting expensive. Perhaps worth holding.

Each to his/her own DC. TET has risen about 8 times in the last 5 years and I have held quite a bit longer. No arguing with banking a profit, especially after the recent surge, but whilst the story remains intact - and is arguably improving- I am happy to continue to hold in the ISA. Minded of the comment made by Warren Buffet's pal Charlie Munger that "You do not make your real money by buying and selling, but by waiting". Good luck with wherever you put the proceeds.

I have fallen in the trap of the past of watching a profit dwindle away and not selling, especially aim shares. Investors just seem to move on and down goes the sp. You have done very well with these partridge and I hope you carry on doing so.

Fair comment DC (although TET is of course main market). With three score years and ten next, I have assembled a number of long term held AIM listed shares which should avoid IHT (primarily ANP, FCRM, JHD, LTG, LTHM, PHD, RWS, SCPA, TFW). Most are doing very well, but they will go if the story changes. Now need to find an Executor who knows about Business Property Relief!

Splendid results and well received placing to raise over £21M at 410p to help with expansion plans both here and in USA. Their focus on natural citrus, tea and sugar reduction solutions is well ahead of original plan and the story may still have a long way to go. I hope to enjoy the ride in my ISA. Always dyor.

Trading Update
RNS
RNS Number : 8730J
Treatt PLC
05 April 2018



5 April 2018

TREATT PLC
("Treatt" or "the Group")

Trading Update for the half year ended 31 March 2018

Treatt, the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance, beverage and consumer product industries today publishes a trading update for the half year ended 31 March 2018.

The Board is pleased to confirm that following a strong result for the financial year ended 30 September 2017 in which profit before tax increased by 46%, the business has continued to perform well in the current financial year with revenue for the six months ended 31 March 2018 up by approximately 11% compared to the same period in the prior year.

The core business categories of citrus, tea and sugar reduction have continued to drive top-line growth with the combined effect of new business wins in the prior year, together with further wins in the current year, beginning to take hold.

Whilst the Group has in place a hedging strategy to try to ensure that the impact of exchange rate movements is broadly neutral to the income statement over the course of a financial year, as has been experienced previously, there can be material effects over shorter periods of time. In the first half of the current financial year ("H1 2018") there was a weakening in the USD/GBP exchange rate and as a result the Board anticipates that there will be a small negative net FX impact on the H1 2018 results of approximately £0.2m.

The recently enacted Tax Cuts and Jobs Act in the United States is expected to result in a material reduction in the Group's overall tax charge. Firstly, the reduction in the headline federal income tax rate from 35% to 21% will reduce the current tax rate on the Group's US profits to 24.5% and further reduce the tax rate to 21% for the financial year ending 30 September 2019. In addition, the Board expects a one-off deferred tax credit of approximately $0.5m (£0.4m). The US tax charge is also likely to be reduced further under the Foreign Derived Intangible Income Tax regime on exports out of the US business. The Group will continue to work through the full impact of these changes as further guidance becomes available, but it is expected that the Group's overall tax charge will be materially lower than would have been the case under previous US tax law.

Outlook
The momentum which is being delivered by the Board's Strategic Plan, with its focus on core product categories and key geographical markets, is expected to continue in the second half of the current financial year and beyond. The Board therefore continues to believe that profit before tax and exceptional items will be in line with its expectations for the financial year ending 30 September 2018.

The Board expects to announce Treatt's half year results for the six months ended 31 March 2018 on 8 May 2018.

MIDAS SHARE TIPS UPDATE: Sugar tax is a Treatt for our specialist food tip
By Joanne Hart, Financial Mail on Sunday
Published: 21:50, 7 April 2018 | Updated: 11:25, 8 April 2018

Fizzing: Treatt's products are in many drinks
On Friday the sugar tax came into force putting up the price of most fizzy drinks in the UK.
The idea behind the tax is to reduce obesity by encouraging consumers to buy fewer sugary drinks and encouraging soft drinks manufacturers to use less sugar.
Whether the tax will have the desired effect could take years to determine, but it plays into the hands of Daemmon Reeve, chief executive of specialist ingredients group Treatt.



Reeve has worked at Treatt since 1991 so he knows the business inside out. Midas first recommended the stock in June 2014, when the price was 158.5p.
Today, the shares are 412p and they are likely to increase further this year and beyond.
Treatt's history dates back to the Victorian era, when the firm was founded by essential oils trader Richard Treatt.
The business has evolved over the years, but retained a trading slant until relatively recently.
Today, however, the group does not just buy and sell ingredients, such as spices, oils and flavourings.
Instead, it works with multinational groups to help them create innovative tastes and beverages using high quality, sustainably sourced, raw ingredient
The company is particularly focused on citrus drinks, flavoured iced teas and natural ingredients that can be used as sugar substitutes.
Its products can be found in beverages in almost every supermarket and bar in this country, it has a strong presence in the US and it is beginning to expand in China and India too.
Reeve and his team are highly optimistic about the outlook, so much so that they are building a brand new, expanded operation in Bury St Edmunds, Suffolk, and a larger facility in the US.
The firm delivered a confident trading update last week, saying figures for the year to September would be in line with market expectations.
The weak dollar put a slight dent in first half profits but that should even out over the full year and the group will benefit from President Trump's recently introduced tax cuts.
Analysts are upbeat, predicting profits of £13.2 million for the year to September 2018, rising to £13.8 million the following year. A dividend of 5.1p is pencilled in for the current year, rising to 5.4p next year.
Midas verdict: Consumers are being warned against the evils of sugary drinks but they still want tasty beverages, both soft and alcoholic.
Treatt helps firms satisfy those needs. It has delivered the goods over the past four years and should continue to do well.
Shareholders may choose to sell up to 25 per cent of their stock to bank some profit but should retain the bulk of their holdings. New investors may also find long-term value in these shares.

Excellent set of interims today and disposal of non core Earthoil Plantations an added bonus. Sugar reduction, tea and citrus product lines all appear on a roll. US factory expansion should complete later this year and if they can build new UK facility on time and to budget by the end of next year the future will look even brighter. Could still have along way to go, but always dyor.

Final results


OPERATIONAL HIGHLIGHTS:
· 2022 strategic growth plan on track
· Won significant new business with global FMCG companies through our continued focus on the key growth drivers of citrus, tea and sugar reduction solutions
· Material advances made on our capital investment programme:
o US expansion project on time and on budget and expected to be completed in 2018 and fully operational in Spring 2019
o UK relocation at advanced stages of design optimisation and progressing well
· Successful disposal of non-core subsidiary, Earthoil Plantations, for enterprise value of £11.3m

Commenting on the results, CEO Daemmon Reeve said:
"I am delighted to report another year of strong growth for Treatt. Last year's performance set the bar high, so I am delighted to report that Treatt's teams from across the business have built upon that performance and secured further success in the year.
"The Group has had a steady start to the new financial year with a number of attractive opportunities in our pipeline of projects with both existing and new customers. We are well placed to capitalise on these opportunities with our capacity expansion in the US expected to complete in the coming weeks. Whilst still early in the financial year, the Group continues to perform in line with the Board's expectations for the full year."