Treatt Plc has released its pre-close trading update for the half year ending March 31, 2015, saying that overall, the first half has seen solid revenue growth compared to the same period last year, with profits also up.
Although underlying gross margins continue to improve, improvement in the first half has been offset, as expected, by some adverse raw material price movements which have hurt margins on some longer-term fixed price contracts, the company added.
Treatt also noted the first six months of this financial year have been encouraging with new business wins in a number of key market segments including the growing craft beer market, and in the sugar-reduction wellness arena for soft drinks. In addition, through partnerships, the company has gained citrus and other flavor business across a range of beverage products.
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