New strategy under leadership of Daemmon Reeve showing early signs of success
Treatt PLC, a manufacturer and supplier of conventional, organic and fair trade ingredient solutions for the flavour, fragrance and consumer goods industries, has reported strong half year results for the six months ended 31 March 2013.
The results showed revenues totalling £33.6m, up on H1 2012, which totalled £36m. Earnings per share grew 40% up to 14.1p, compared with 10.1p in H1 2012. Furthermore, interim dividend increased by 8% to 5.5p.
The positive results are being put down to the initial impact of some of the measures taken according to the Group’s new strategic focus under Group CEO Daemmon Reeve. These include: the re-alignment of resources across the Group to support sales efforts, especially to multinational companies; the establishment of a global Group sales structure; a heavy investment in R&D and new product development, especially in the value added sectors of markets; and tight control of costs.
Reeve said: “It has been an exciting and busy six months for the business and these results are a reflection that this effort and focus is translating into profits. We could not do this without the great team we have across all our operations. Treatt is well positioned to take advantage of the many opportunities ahead of us.”