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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.£236.5m
Last close405.00p
High / Low (52 weeks)508.0p / 397.0p
Stock market listingLN
Forecast net debt (£m)3.2
Forecast gearing ratio (%)4
TeamIndustrials
SectorBasic Industries

Price performance

%1m3m12m
Actual(12)(15.6)(13.1)
Relative *(9.4)(9.3)(4.9)

* % 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)
2017A 101.3 15.0 12.8 18.5 21.9 45.1
2018A 112.2 16.6 13.8 20.3 20.0 64.3
2019E 116.1 15.8 14.2 19.1 21.2 15.3
2020E 120.7 18.6 14.8 20.0 20.3 14.2

Last updated on 05/12/2018

Latest research

A more normal year

Update | Basic Industries | 04/12/2018

Consolidating gains

Update | Basic Industries | 08/10/2018

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

Investment summary

Treatt has reported yet another set of strong results in FY18. The company remains in the sweet spot of current consumer trends, with ingredients that help to deliver better-for-you products with clean labels and without compromising on taste. The US expansion is on track and on budget, and will be fully operational in H119. The UK relocation is progressing well, although it is more complex and the timetable has slipped by about six months. FY19 has started well, and at this stage we leave our estimates broadly unchanged. Our DCF-derived fair value remains 510p.

Last updated on 04/12/2018

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 29/11/2018

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