Treatt Reports Lower Profit For Full Year, But Revenue Up

Treatt PLC (TET.L), a manufacturer of natural extracts and ingredients, Tuesday reported profit before tax of 16.18 million pounds for the year ended September 30, lower than 19.62 million pounds last year, particularly reflecting higher cost of sales as well as administrative expenses.

Cost of sales for the year increased to 101.10 million pounds from 82.10 million pounds last year. Administrative expenses also rose to 23.91 million pounds from 20.88 million pounds a year ago.

Excluding special items, adjusted profit before tax declined to 15.26 million pounds from 20.92 million pounds a year ago.

Net profit for the year was down at 13.32 million pounds or 21.82p per share compared with 15.15 million pounds or 24.91p per share last year.

Adjusted profit decreased to 11.96 million pounds or 19.6p per share from 16.26 million pounds or 26.74p per share last year.

Revenue for the year, however, grew to 140.19 million pounds from 124.33 million pounds in the previous year, helped by sales growth across all product categories, except hard tea.

The company's directors proposed a final dividend of 5.35p per share to be payable on March 16, to shareholders on the register as on February 3.

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