A strong set of half year results - revenue growth of 27% and adjusted EPS growth of 63%
Treatt Plc (the ‘Group’), the leading beverage ingredient solutions manufacturer, announces its half year results for the six months ended 31 March 2017.
HIGHLIGHTS of the half year:
- Revenues for the six months increased by 27% to £51.8 million (H1 2016: £40.9 million)
- Operating profit increased by 59% to £5.9m (H1 2016: £3.7m)
- Adjusted* profit before tax rose by 63% to £5.5m (H1 2016: £3.4m)
- Adjusted* basic earnings per share increased by 63% to 7.69p (H1 2016: 4.72p)
- Interim dividend per share raised by 7% to 1.45p (2016 interim dividend: 1.35p)
- All key product categories performing well
- Group’s strategic focus on innovative citrus, tea and sugar reduction categories proving to be key growth drivers
* All adjusted measures exclude exceptional items in the prior year – see note 7 to the financial
Commenting on the results, Group CEO, Daemmon Reeve, said: “These are a great set of half year numbers for which our staff all deserve huge credit. The quality and frequency of new business wins is gaining good momentum, and through the dedication and skill of our colleagues we are on course to meet our 2020 targets some three years ahead of schedule.
“By anticipating and working closely with our customers, we are increasingly leveraging our position as a key supplier to major global corporations. Our well-defined strategy will continue to focus on promoting long-term sustainable growth and with the investments planned in the UK and the US we will be able to build on these successes as we look towards the next exciting steps of our journey.
“New business wins and a strong performance across all our categories, particularly in Sugar Reduction, Tea and Citrus, which are areas of strategic focus, together with the impact of current
foreign exchange rates have combined in an order book which has increased materially compared with the same time last year.”
Treatt employs around 200 people locally and is one of the largest employers in the area as well as a significant contributor to the region’s economy. Daemmon Reeve’s belief that empowering,
recognising and encouraging staff to take ownership of the company’s success is motivational and creates an environment which fosters innovation, the heart of Treatt’s growth potential.
Highlighting its commitment to boosting the skills base of Suffolk’s workforce over the longer-term, the company was awarded winner of the 2016 British Chamber Business Commitment to People
Development Award for the Eastern region.