Treatt (TET)

Sector:

Industrial Chemicals

Index:

FTSE Small Cap

1,225.00p
   
  • Change Today:
      60.00p
  • 52 Week High: 1,225.00
  • 52 Week Low: 485.00
  • Currency: UK Pounds
  • Shares Issued: 59.65m
  • Volume: 116,102
  • Market Cap: £730.66m
  • RiskGrade: 277

Treatt shrugs off Covid-19 hit to post jump in annual profits

By Abigail Townsend

Date: Tuesday 24 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Chemicals group Treatt said it had performed strongly in an "unprecedented" year as it posted a jump in annual profits.
Revenues in the year to 30 September dipped 3% to £109.0m, but pre-tax profits before expectational items rose 11.3% to £14.8m. Treatt, which supplies the beverage, flavour and fragrance industries, said profits had exceeded the board's pre-Covid-19 expectations.

Adjusted earnings per share rose 10.7%,to 19.72p, while pre-tax profits rose to £13.7m from £12.5m a year earlier.

Tim Jones, chairman, said stockpiling had helped support sales during the first half as lockdown approached. "Then, as expected, volumes were hit during the second half, largely due to the drop in on-trade sales in the US and disrupted operations for the hospitality sector.

"But the impact has not been anything like we feared when our markets first went into lockdown."

Looking ahead, he said: "Notwithstanding Covid-19 related market uncertainty, we remain optimistic for the coming year. Our resilient business model and strategy for growth are delivery good results and we have further opportunities to pursue.

"In particular, the current trends in coffee, natural extracts and the burgeoning hard seltzer market play to our strengths and provide us with opportunities to further innovate and diversify our portfolio."

Chief executive Daemmon Reeve said the company had performed strongly during what had been an unprecedented year.

"We continue to focus on new market opportunities and consumer trends. Building on the excellent fundamentals of our business and broad added-value product offering, we have made a strong start to our new financial year."

Sara Welford, consumer analyst at Edison, said: "Treatt performed well during 2020 despite the pandemic. There was strong momentum across the tea, health and wellness, and fruit and vegetables categories, and citrus markets recovered as expected.

"While management report a strong start to the new financial year, the outlook is understandably uncertain: demand is not expected to return to normal levels before the end of the 2021 full year or into the 2022 full year, though management is confident the business is in the best possible shape to face the uncertainty."

As at 1415 GMT, shares in Treatt were largely flat at 647.3p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Treatt Market Data

Currency UK Pounds
Share Price 1,225.00p
Change Today 60.00p
% Change 5.15 %
52 Week High 1,225.00
52 Week Low 485.00
Volume 116,102
Shares Issued 59.65m
Market Cap £730.66m
RiskGrade 277

Treatt Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.25% below the market average99.25% below the market average99.25% below the market average99.25% below the market average99.25% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
92.38% above the market average92.38% above the market average92.38% above the market average92.38% above the market average92.38% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Income
95.63% below the market average95.63% below the market average95.63% below the market average95.63% below the market average95.63% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
36.21% above the market average36.21% above the market average36.21% above the market average36.21% above the market average36.21% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Treatt Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Jul-21 04-Feb-21
Paid 12-Aug-21 18-Mar-21
Amount 2.00p 4.16p

Trades for 18-Jun-2021

Time Volume / Share Price
16:35 38,012 @ 1,225.00p
16:29 123 @ 1,190.00p
16:29 39 @ 1,190.00p
16:29 321 @ 1,190.00p
16:29 38 @ 1,175.00p

Treatt Key Personnel

CFO Richard Andrew Hope
CEO Daemmon Reeve

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