25
January 2024
TREATT PLC
("Treatt" or "the
Group")
AGM Trading
Update
Treatt, the manufacturer and
supplier of a diverse and sustainable portfolio of natural extracts
and ingredients for the beverage, flavour and fragrance industries,
provides the following update on trading for the three month period
to 31 December 2023 ("Q1"), ahead of its Annual General Meeting to
be held later today at 10:30am in the Group's UK Headquarters at
Skyliner Way, Bury St Edmunds.
Revenue performance in Q1, which is
typically our quietest quarter, saw a decline year on year as
anticipated, reflecting the impact of
destocking. There are encouraging signs
that destocking trends are reversing, and as such we expect
customer demand to return to more normal levels in Q2. The Group
continues to benefit from the cost disciplines that are embedded in
the business.
We remain committed to volume
growth, and are well placed with a healthy pipeline of
opportunities with both new and existing customers. Many of these
opportunities align with the long-term
trends towards health & wellness and use of natural extracts,
areas in which Treatt has a recognised market position, as well as
opportunities in our target growth areas in new markets.
We continue to focus on cash
generation and we are on track for further improvement in net debt
during the course of the year in line with management's
expectations.
Whilst we
are mindful of ongoing macroeconomic pressures, we are encouraged
by current trading, underpinning our confidence in
our trading performance for the year ahead.
Treatt
plc
+44 (0)1284
702500
Ryan
Govender
Interim Chief Executive Officer
Alison
Sleight
Interim Chief Financial Officer
Joint
Brokers
Investec Bank
Plc
+44 (0)20 7597 5970
Patrick Robb
David Anderson
Peel Hunt
LLP
+44 (0) 20 7418 8900
George Sellar
Mike Burke
Financial PR
MHP
+44(0) 20 3128 8100
Tim
Rowntree
Treatt@mhpgroup.com
Eleni Menikou
Catherine Chapman
About the Group
Treatt is a global, independent
manufacturer and supplier of a diverse and sustainable portfolio of
natural extracts and ingredients 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 400 people in
Europe, North America and Asia and has manufacturing facilities in
the UK and US. Its international footprint 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.
