REG - Treatt PLC - AGM Trading Update

TreattAnnouncement

25/01/2024 07:00

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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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