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Treatt Announces Trading Update
Posted: March 23, 2011
Treatt PLC (Bury St. Edmonds, England) issued a trading update before entering the close period for its half-year results for the period ended March 31, 2011, which are scheduled to be announced May, 23, 2011.
The company notes that it is “pleased to announce that the positive news reported in an interim management statement issued on Feb. 15, 2011 has continued, and, in some parts of the company, even accelerated. Consequently, trading for the half year has significantly exceeded expectations and with orders remaining strong, full year results are now likely to be materially higher than previously anticipated,” according to a press release.
Treatt is benefitting from sales growth across each of its operating companies, with high orange oil prices being a major factor in this growth for both R.C. Treatt and Treatt USA. According to the press release, “During the last few years the market price of orange oil has generally been around $2/kg, and it remained at this level until July last year. Since then there has been a sharp increase in the price to around $10/kg and prices are not anticipated to return fully to their previous levels in the near term.” Additionally, the consistant price of other raw materials has also contributed to the company’s growth, though not to the extent of orange oil.
R.C. Treatt, the company’s UK operating subsidiary, has continued with its strong performance and is now bolstered by strong trading results from Treatt USA, together with a significantly improved, and profitable, first six months from Earthoil.