Treatt Plc (TET.L), the manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance and consumer goods industries said, following the Q3 Interim Management Statement published on 29 July 2014, the Board confirmed that the Group expects to report revenue and profit before tax in line with its expectations.
The company stated that the underlying performance of the business for the year has been one of steady progress, building on the strategic foundations which were put in place in early 2013 although, as previously indicated, the relatively high raw material cost of certain key citrus ingredients will be reflected in higher than normal year-end inventory levels.
The Board can also confirm that the FX strategy which is in place has resulted in movements in FX rates during the year not having a material impact on reported results, the company said.
Looking to the year ahead, the company said the level of order books across the Group are satisfactory. Whilst raw material prices are expected to remain high, which in turn may impact upon margins, the Group expects to continue to see the benefits of its strategy of focusing on selling added-value ingredient solutions to leading FMCG and beverage businesses, whilst maintaining a tight control of costs.
by RTT Staff Writer
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