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.£237.8m
Last close456.75p
High / Low (52 weeks)523.0p / 187.5p
Stock market listingLN
Forecast net debt (£m)5.6
Forecast gearing ratio (%)12
TeamIndustrials
SectorBasic Industries

Price performance

%1m3m12m
Actual(6.4)(10.5)145.6
Relative *(5.3)(9.3)130.6

* % Relative to local index

Other companies in sector Show

Company news

Treatt plc

Fri, 09 Jan 2009 15:00:00 GMT

Treatt plc three years ahead of 2020 growth targets

Tue, 09 May 2017 08:03:45 GMT

Is Treatt plc the market's best hidden gem after soaring 20%?

Thu, 23 Feb 2017 12:22:30 GMT

Is It Too Late To Buy Treatt plc (LSE:TET)?

Wed, 13 Sep 2017 14:15:00 GMT

Treatt plc (LSE:TET): Financial Strength Analysis

Wed, 12 Apr 2017 15:33:45 GMT

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 85.9 10.3 8.3 12.7 36.0 27.1
2016A 88.0 11.6 9.6 14.3 31.9 21.9
2017E 102.1 15.8 13.6 19.9 23.0 16.1
2018E 109.3 17.6 14.8 21.6 21.1 14.3

Last updated on 14/08/2017

Latest research

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

Steady as she goes

Update | Basic Industries | 12/10/2015

Another good half

Update | Basic Industries | 28/05/2015

Daily comment

Institutional Comment | Basic Industries | 31/03/2015

Strategy coming to fruition

Update | Basic Industries | 31/03/2015

Investment summary

Treatt's strategy to improve the quality of earnings is coming through and the move from commoditised sales to more value-added products is playing out. The company yet again beat expectations by delivering an exceptionally strong H117, despite Q1 typically being a seasonally weak quarter, and momentum continued to build throughout Q2. There will be a full site relocation for the UK business over the next three years or so, and expansion of the US site. We continue to view Treatt as a good-value opportunity in the highly rated and high-growth ingredients space.

Last updated on 06/09/2017

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 flavours and sugar reduction are core areas of focus, with the latter undergoing a structural growth trend.

Last updated on 06/09/2017

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