Updates

Treatt

May 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

After the turbulence of last year, which was more of a margin issue, Treatt has strongly turned the corner. Its H1 update showed sales to end March were +15% (8.5% in constant currency) to £75.9m with pretax profit expected to be +12% to £7.1m helped by successful pricing actions to recover raw material inflation. Net debt reduced by almost £5m to £17.7m. The company notes the performance was particularly driven by its largest category, Citrus (assisted by mix, strong performance in key value-added products, procurement execution and positive pricing). The majority of the UK production has also moved to a new Bury St Edmund facility removing capacity constraints. After the lockdowns, China, which continues to be an important strat ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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