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LONDON (Alliance News) - Treatt PLC on Tuesday said its annual pretax profit and revenue both increased thanks to strong sales to the consumer goods sector and high prices on some of the ingredients it sells.
Treatt's pretax profit for the year to the end of September was GBP7.8 million, up from GBP5.5 million a year earlier, as revenue rose to GBP85.9 million from GBP79.2 million.
The company, which makes ingredients for the flavour, fragrance and consumer goods industries, said its sales growth was driven by strong orders from the consumer goods sector, along with historically-high market prices on certain ingredients, including lemon and lime oil, though the prices are expected to fall back over the course of Treatt's current financial year.
Treatt will pay a final dividend of 2.76 pence, up from 2.60p, increasing its total dividend 5.2% year-on-year to 4.04p.
The group said the new financial year has started well, with encouraging signs that its first quarter will mark an improvement on the tougher start Treatt had to the 2015 financial year. The group is seeing particularly good sales to the consumer goods sector, especially in beverages, and is looking to increase the contribution from its Earthoil personal care and cosmetic ingredients unit.
"Our strategy continues to bear fruit and gives us confidence that the business is increasingly well placed to capitalise on the opportunities ahead of us. This progress has only been possible because of the energy and creativity of our people who are working ever more closely together across the business to meet our customers' needs. We will continue to manage and invest in the business ensuring that we build a business to deliver for our customers today and tomorrow," said Chief Executive Daemmon Reeve.
Shares in Treatt were up 1.8% to 167.00p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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