Treatt supports prospects for improving trade, celebrates record March

Treatt supports prospects for improving trade, celebrates record March
Treatt supports prospects for improving trade, celebrates record March

(Alliance News) – Treatt PLC said on Tuesday momentum was “good”, supported by a strong order book, while revealing an improvement in its half-year profit.

Shares in Treatt rose 4.2% to 492.61 pence in London on Tuesday afternoon.

In the six months to March, the Suffolk-based extracts and ingredients maker said pre-tax profit rose 7.9 per cent to £7.1 million, up from £6. £6m in the previous year, while earnings per share rose 7.0% to 8.72p from 8.15p.

But revenue fell 5.1% to £72.1 million, compared with £76.0 million the previous year, Treatt said.

Treatt said revenue accelerated in the second quarter as orders normalized and new contracts were secured, unlike the first quarter, which was held back by destocking, as expected. .

The interim dividend was increased by 2.0%, from 2.55 pence to 2.60 pence per share.

Treatt said it continued to expect full-year profits to be in line with its expectations, noting good momentum heading into the second half.

She noted a “strong” order book and a “healthy” sales pipeline.

Ryan Govender, interim chief executive, said: “These results show good growth in profits and operating margins. After the expected impact of destocking has faded [au premier trimestre]the momentum in the second quarter was stronger, with an increase in volumes, and we recorded in March the highest monthly turnover in our history.”

By Jeremy Cutler, Alliance News reporter

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