Treatt continues to weather recession in 2009
Flavour, fragrance and cosmetic supplier Treatt has amassed a pre tax profit of £3.50m for the year ended 30 September 2009, an increase of 14% on the same period of 2008. The group’s revenue increased 13% to £56.31m, meaning that Treatt’s revenue has nearly doubled over the past two years, rising 48%.
Flavour, fragrance and cosmetic supplier Treatt has amassed a pre tax profit of £3.50m for the year ended 30 September 2009, an increase of 14% on the same period of 2008. The group’s revenue increased 13% to £56.31m, meaning that Treatt’s revenue has nearly doubled over the past two years, rising 48%.
“Treatt continued to perform strongly with particularly healthy demand from its major customers and with strong export sales being maintained,” commented chairman of the board Edward Dawnay, who also noted that the group had benefited from the strengthening of the US dollar in the first quarter.
In addition, the results reflected the first full year since the acquisition of organic and Fairtrade specialist Earthoil, which on a like for like basis saw an increase in revenue of 42%.
Sales of orange oil products, which made up 17% of Treatt’s revenue, decreased by 3% having grown 54% in 2008. According to Dawnay, however, this should be viewed in the context that orange oil fell from $2.50 per kg to $1.00 per kg during the financial year in question.
Dawnay has also announced that he is to retire as chairman of the group’s board of directors. Current non-executive director James Grace will succeed Dawnay when he steps down at Treatt’s AGM in February 2010.