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RNS Number : 8178A Treatt PLC 25 January 2024
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
(http://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.
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