Treatt (TET)

Business description

Treatt provides innovative ingredient solutions from its manufacturing bases in Europe, North America and Africa, principally for the flavours and fragrance industries and multinational consumer goods companies, particularly in the beverage sector.

Stock data

Market cap.£279.2m
Last close485.00p
High / Low (52 weeks)523.0p / 395.0p
Stock market listingLN
Forecast net cash (£m)18.3
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorBasic Industries

Price performance

%1m3m12m
Actual18.620.19.9
Relative *11.912.74.6

* % Relative to local index

Other companies in sector Show

Company news

Treatt shares up as it posts jump in half-year profit, sells Earthoil ...

Tue, 08 May 2018 12:56:15 GMT

Earthoil owned by Treatt PLC to be acquired by Univar

Mon, 14 May 2018 16:07:30 GMT

Treatt is coming up roses in my small-cap portfolio

Tue, 28 Nov 2017 10:18:31 GMT

Treatt plc gains detailed planning permission for its new site on Suffolk Park ...

Mon, 26 Mar 2018 16:07:54 GMT

Director Deals - Treatt PLC (TET)

Fri, 11 May 2018 16:18:45 GMT

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 88.0 11.6 9.6 14.3 33.9 23.3
2017A 109.6 16.3 14.0 20.4 23.8 54.1
2018E 109.3 16.4 14.6 19.6 24.7 11.4
2019E 114.8 18.9 15.9 21.1 23.0 16.2

Last updated on 15/05/2018

Latest research

Going strong

Outlook | Basic Industries | 15/05/2018

Reassuring confidence

Update | Basic Industries | 05/04/2018

Growth continues apace

Update | Basic Industries | 30/11/2017

A full year Treat(t)

Update | Basic Industries | 03/10/2017

A brilliant half

Update | Basic Industries | 09/05/2017

Another upward surprise

Update | Basic Industries | 07/04/2017

Keep Treat(t)ing

Update | Basic Industries | 27/02/2017

What a Treatt

Outlook | Basic Industries | 18/01/2017

Staying sweet

Update | Basic Industries | 30/11/2016

Treat(t)ing investors

Update | Basic Industries | 11/10/2016

New strategy playing out

Update | Basic Industries | 17/05/2016

A great recipe

Outlook | Basic Industries | 06/01/2016

Investment summary

Treatt has transformed itself from a commodity-based ingredients company into a supplier of value-added ingredients and ingredient solutions. The previous strategy was delivered three years ahead of target, following a stellar FY17, and the new strategy introduced last September builds on the strong momentum in the business, which has seen five consecutive years of earnings above company expectations. Our DCF analysis points to a value of 540p/share, supported by peer group analysis that places the stock at a c 10% discount to its competitors.

Last updated on 15/05/2018

Industry outlook

Annual growth rates for the global flavours, fragrance and ingredients sector are expected to be low single digits in 2013-18 (source: IAL Consultants). Treatt is migrating its business from that of a pure supplier to the food and beverage industries to being a valued partner in the development of new ingredients. Citrus and tea flavours, and sugar reduction are core areas of focus, with the latter undergoing a structural growth trend.

Last updated on 27/04/2018

Key management

Tim Jones , Chairman
Daemmon Reeve, CEO
Richard Hope , CFO

Company address

Northern Way
Bury St Edmunds
Suffolk
IP32 6NL
United Kingdom
+44 1284 702500
View website