Member Info for jange

Looking ahead, the group added, "The new financial year has started at a steady pace which in relative terms will mean that Q1 of the current year ending September 30th 2013 will show a significant improvement on last year." Treatt said that the price of orange oil, the group's largest product segment, fell by over 60% creating downward pressure on margins. The board said it is proposing a dividend increase of 6.9% to 15.5p per share.

Treatt, an ingredients supplier to the flavour and fragrance industries, posted a drop in annual revenue, after a weak first quarter, but say it remains well placed for future growth. Group revenue fell 0.7% to £74m for the year ended September 30th 2012 while pre-tax profit fell to £5.1m from £6.4m in 2011. Group operating profit after FX fell 18% to £5.6m while pre-exceptional profits for the year recovered to £5.1m. Earnings per share fell 19.1% to 34.4p. Sales in the UK grew by 12%, while across the rest of Europe demand was very weak, with sales to France and Germany coming under particular pressure during the year. Strong growth continues across Asia and the Americas. "2012 has been a mixed year for the group. Notwithstanding 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," the group said in a company statement.

"The Board is confident of the fundamental long-term prospects of the group. Our technology and services are gaining increasing recognition and we are committed to a controlled expansion. Our balance sheet is robust and we still have approximately £1m of net cash, despite our many recent capital expenditures. The company remains committed to its previously announced dividend payout policy," the statement added. Lastly, the company remained committed to its previously announced dividend payout policy.

At the right place even if not .... Nevertheless, and as the pipeline of projects for its CTU's grows, the company says it is still confident that the operational shift within the oil and gas industry, for treating waste offshore instead of onshore, is happening." In spite of challenges, the company reported promising developments: "Over the last two years we are extremely pleased by the number of opportunities which have been generated in both existing and new market locations and are actively progressing several of these and we expect to make further announcements in the near future". Increased traffic through Rotterdam, company says The company stated that its Engineering division had signed a contract with the UK Ministry of Defence for the construction of a waste processing facility in an overseas territory with a contract value in excess of £2m. As well, the Maritime division reported that it is benefiting from an improvement in global maritime traffic through Rotterdam.

Shares in AIM-listed maritime waste treatment provider Nature Group tumbled on Monday following publication of a trading update by the company. Those were the first since naming a new Chairman. The company stated that the results for the year would be materially below market expectations as a result of the combined effect of delays in completion of a number of projects and orders, along with the increased costs associated with preparing for the expansion of the business. The second half of 2012 would be adversely affected by a lower than expected level of revenue and decreasing margins in the company's oil and gas division, the company explained in its update. "The deployment and sales of our compact treatment units (CTU) are taking longer than previously anticipated and consequently revenue from these units - that management had expected to occur in the year ending 2012 - are now expected to complete in 2013," the update stated. "We had anticipated when building the last two CTU's that they would have been deployed sooner, but it is now apparent that they won't contribute to Nature's 2012 results," the firm explained.

WPP Group: Deutsche Bank reduces target price from 945p to 930p and downgrades to hold.

UBM: Deutsche Bank raises target price from 790p to 860p, while keeping its buy rating.

TUI Travel: Jefferies downgrades from buy to hold, while reiterating the target price at 300p.

Treatt: Investec reduces target price from 377p to 355p and downgrades to hold.

Solid State: WH Ireland raises target price from 266p to 274p and keeps a buy rating.

Smith & Nephew: Investec raises target price from 670p to 730p and upgrades to buy.

Smith (DS): Oriel Securities raises target price from 255p to 270p and keeps its buy recommendation.

Reed Elsevier: Deutsche Bank raises target price from 690p to 730p; buy rating unchanged.

Northgate: Jefferies raises target price from 290p to 310p and keeps its buy recommendation.

Nature Group: WH Ireland downgrades from buy to neutral.

IMI: Alphavalue downgrades to reduce, while maintaining the target price at 1102.50p.

Greggs: Shore Capital downgrades to hold.

Eurasian Natural Resources Corporation: Deutsche Bank cuts target price from 720p to 710p and reiterates its buy rating.

Enterprise Inns: Morgan Stanley raises target price from 75p to 140p and upgrades from equal weight to overweight

Diageo: UBS raises target price from 1850p to 2050p; buy rating remains unchanged.