Oranges provide fruity boost for Treatt
1 min read
Flavours and fragrances manufacturer Treatt announced today (22 March) that trading for the first half of its financial half year had significantly exceeded expectations and with order books remaining strong, full year results were now likely to be materially higher than previously anticipated.
In a trading update, the manufacturer and supplier of conventional, organic and fair trade ingredients for the flavour, fragrance and cosmetic industries said it was benefitting from strong sales growth across all three of its operating companies with a high orange oil price being a major contributory factor in this growth for both the UK and US operations.
Over the last few years the market price of orange oil has generally been around $2/kg, and it remained at this level until July last year. Since then there has been a sharp increase in the price to around $10/kg. Sales of orange oil products had remained consistently above 15% of Group turnover for many years, Treatt said.
R.C. Treatt, the UK operating subsidiary, had continued with its strong performance of the last few years and had now been bolstered by exceptionally strong trading results from Treatt USA, together with a significantly improved, and profitable, first six months from Earthoil, the Group's organic and fair trade business.
