Interim Management Statement

RNS Number : 0922H

Treatt PLC

12 February 2010

 



TREATT PLC

INTERIM MANAGEMENT STATEMENT

YEAR ENDED 30 SEPTEMBER 2010

Interim Management Statement for period ending 11 February 2010

Treatt PLC (the 'Group'), the manufacturer and supplier of conventional, organic and fair trade ingredients for the flavour, fragrance and cosmetic industries today publishes its Interim Management Statement as required by the Listing Authority Disclosure and Transparency rules. This statement relates to the period from 1 October 2009 to 11 February 2010.

Following a strong year ended 30 September 2009, the new financial year has had a slow start, with sales and margins both being weaker than expected, although Q1 is often the weakest quarter of the fiscal year.  Since the beginning of 2010 there has been a significant improvement in both sales and margins, with February looking particularly strong.  

As compared to the same period last year, the main weakening has been at R.C. Treatt (RCT), the Group's UK operating subsidiary, but this has been primarily due to the timing of some large deliveries which had already been contracted for.  This is in comparison to RCT's performance during the same period of the last financial year which had benefited from very strong sales supported by favourable currency movements. 

Consistent with the seasonal pattern of previous years, Treatt USA have had a relatively quiet start to the financial year whilst Earthoil has continued to perform in line with expectations, thereby showing a steady improvement on the results for the prior year.

Although it is too early to be wholly confident, the Board remain optimistic that, subject to the vagaries of short term foreign exchange movements, sales and margins will continue to improve over the coming months and that the Group will meet it expectations for the current year.

Treatt Plc's Annual General Meeting takes place on Friday 19 February 2010.

Issue date:  12 February 2010

For further information please contact:

Treatt PLC                01284 714820

Richard Hope            Group Finance Director                              

 

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