We would love to hear your thoughts about our site and services, please take our survey here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTreatt Regulatory News (TET)

Share Price Information for Treatt (TET)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 486.00
Bid: 340.00
Ask: 641.00
Change: 0.00 (0.00%)
Spread: 301.00 (88.529%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 486.00
TET Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Update

5 Apr 2018 07:00

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.

 

 

 

Enquiries:

 

Treatt plc +44 (0)1284 702500

Daemmon Reeve Chief Executive Officer

Richard Hope Chief Financial Officer

 

Broker

Investec Investment Banking

Patrick Robb +44 (0)20 7597 5970

David Anderson

Alex Wright

 

Public relations

DRD Partnership

Lawrence Dore +44 (0)20 3865 5971

 

About the Group

Treatt is a global, independent supplier of innovative ingredient solutions for the flavour, fragrance and multinational consumer product industries, particularly in the beverage sector. Renowned for its technical expertise and knowledge of ingredients, their origins and market conditions, Treatt is recognised as a leader in its field.

 

The Group employs over 300 staff in Europe, North America, Africa and Asia and has manufacturing facilities in the UK, USA and Kenya. Its international foot print enables the Group to deliver powerful and integrated solutions for the food, beverage and fragrance industries across the globe.

 

 

For further information about the Group, visit www.treatt.com.

 

 

 

 

 

 

 

 

 

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and markets in which the Group operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated. No assurances can be given that the forward-looking statements in this announcement will be realised. The forward-looking statements reflect the knowledge and information available at the date of preparation of this announcement and the Group undertakes no obligation to update these forward-looking statements. Nothing in this announcement should be construed as a profit forecast.

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLLFLDSAISIIT
Date   Source Headline
2nd Sep 20152:19 pmRNSNotification of Transactions of Directors
27th Aug 201511:06 amRNSTotal Voting Rights
10th Aug 201511:44 amRNSDirector/PDMR Shareholding
21st Jul 20151:41 pmRNSDirector/PDMR Shareholding
3rd Jul 20153:23 pmRNSDirector/PDMR Shareholding
10th Jun 20154:57 pmRNSDirector/PDMR Shareholding
4th Jun 20157:00 amRNSBlock Listing Six Monthly Return
1st Jun 201511:48 amRNSDirector/PDMR Shareholding
27th May 201512:07 pmRNSTotal Voting Rights
21st May 20155:11 pmRNSDirector/PDMR Shareholding
19th May 20157:00 amRNSHalf Yearly Report
14th Apr 20153:52 pmRNSDirector/PDMR Shareholding
8th Apr 20153:16 pmRNSDirector/PDMR Shareholding
30th Mar 20153:10 pmRNSDirector/PDMR Shareholding
30th Mar 20157:04 amRNSTrading Statement
23rd Mar 20153:15 pmRNSDirector/PDMR Shareholding
18th Mar 20154:59 pmRNSDirector/PDMR Shareholding
11th Feb 20154:19 pmRNSUpdate on Earthoil Earn-out Dispute
30th Jan 20154:09 pmRNSResult of AGM
14th Jan 20153:42 pmRNSDirector/PDMR Shareholding
8th Jan 201510:18 amRNSDirector/PDMR Shareholding
5th Jan 20153:26 pmRNSReplacement Director/PDMR Shareholding
5th Jan 201511:30 amRNSDirector/PDMR Shareholding
31st Dec 20147:00 amRNSAnnual Information Update
31st Dec 20147:00 amRNSTotal Voting Rights
16th Dec 20145:02 pmRNSDirector/PDMR Shareholding
12th Dec 20143:56 pmRNSAnnual Financial Report
9th Dec 20147:00 amRNSFinal Results
2nd Dec 20147:00 amRNSBlock Listing Application
28th Oct 20143:00 pmRNSVoting Rights and Capital
23rd Oct 20142:38 pmRNSDirector/PDMR Shareholding
7th Oct 20144:52 pmRNSDirector/PDMR Shareholding
3rd Oct 20141:50 pmRNSDirector/PDMR Shareholding
1st Oct 20147:00 amRNSTrading Statement
30th Sep 20144:02 pmRNSTotal Voting Rights
29th Sep 20144:25 pmRNSDirector/PDMR Shareholding
1st Sep 20149:22 amRNSDirector/PDMR Shareholding
29th Aug 20147:00 amRNSTotal Voting Rights
1st Aug 20142:25 pmRNSDirector/PDMR Shareholding
29th Jul 201410:03 amRNSDirector/PDMR Shareholding
29th Jul 20147:00 amRNSInterim Management Statement
1st Jul 20143:44 pmRNSDirector/PDMR Shareholding
1st Jul 20148:32 amRNSDirector/PDMR Shareholding
30th Jun 20143:17 pmRNSHolding(s) in Company
23rd May 20144:39 pmRNSHolding(s) in Company
20th May 20147:00 amRNSHalf Year Results
19th May 20149:47 amRNSVoting Rights and Capital
16th May 201412:07 pmRNSResult of EGM
16th Apr 20141:41 pmRNSNotice of EGM
9th Apr 20142:34 pmRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.