Interim Management Statement

RNS Number : 1350Y

Treatt PLC

18 February 2013

 



TREATT PLC

18 February 2013

Q1 Interim Management Statement for year ending 30 September 2013

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 2012 to 16 February 2013.

The first quarter of this current financial year was in line with seasonal expectations, particularly at Treatt USA where business is more seasonal than other parts of the Group.  R.C. Treatt, the Group's UK-based operation which services the global market, has had a better first quarter than in the previous financial year, and is continuing to perform satisfactorily into the second quarter with order books up by more than 10% year on year despite significantly lower orange oil prices, a key commodity for the Group.  Treatt USA is now moving into its seasonally busy period with, similarly, order books well up on last year whilst Earthoil, the cosmetic ingredients division specialising in organic and fair trade, has had an encouraging start to the financial year but remains a relatively small proportion of overall Group performance.

Turning to the future, as reported in the recently published Annual Report, the Board has carried out a thorough review of the business under the leadership of Group CEO, Daemmon Reeve and has approved a new strategy which has been communicated to all colleagues throughout the Group.  The new strategy has a focus for developing the Group using a targeted sales plan (supported by market-led research and development) combined with a tight control of overheads to deliver efficiencies throughout the Group.  The Board is encouraged by early signs of this new strategy bearing fruit with the strong engagement of employees at all levels.

The Board is pleased to confirm that whilst we remain in the early part of the financial year, the Group is on course to meet its expectations for the financial year ended 30 September 2013.

Treatt Plc's Annual General Meeting takes place on Monday 25 February 2013 and shareholders are welcome to attend.

For further information please contact:

Treatt PLC                01284 714820

Daemmon Reeve      Chief Executive Officer

Richard Hope            Finance Director                              

 

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