Treatt eyes citrus recovery and backs full year guidance
Treatt PLC on Thursday said trading in the year-to-date has been as anticipated, with a quiet first quarter followed by increasing momentum in the second quarter.
The Suffolk, England-based extracts and ingredients manufacturer provided an update for the half-year to the end of March, and said it expects to deliver its full year performance to be in line with management expectations.
The firm expects a greater weighting to the second half of the year than in financial 2025.
‘The group continues to operate against a backdrop of external industry, macroeconomic and increased geopolitical pressures, however Treatt remains focused on the disciplined execution of its strategy, strengthening customer relationships and positioning the business for sustainable growth over the medium term,’ it said.
In Heritage, Treatt said the citrus market headwinds of financial 2025 have ‘begun to show initial signs of easing’. This provides confidence that there will be positive momentum in volumes into the second half, though it expects a full recover ‘will take some time to come through’.
In the Premium sector, Treatt said challenging market conditions continued to impact end consumer demand, particularly in the US.
‘However, we remain confident in our product offering, and in health & wellness have been encouraged by an increase in volumes in the fast growing low-and-no sugar category,’ Treatt said.
It added that the pipeline of opportunities ‘remains healthy’ in higher-value Premium categories.
The firm note encouraging progress in the New Markets sector, particularly in China.
It reported double-digit growth in the first half in China, in line with expectations, and said this performance is expected to continue into the second half.
Treatt said the recruitment processes for both chief executive officer and non-executive director roles ‘remains well underway’.
Manprit Randhawa, chief financial officer and interim group managing director, said: ‘Trading in the year-to-date has been in line with our expectations. We remain focused on our strategy: building our heritage products, expanding higher-margin Premium categories, strengthening customer collaboration and investing in innovation.
‘Despite a volatile external environment, we are encouraged by our pipeline of opportunities and remain confident in the group’s medium-term growth prospects.’
Shares in Treatt were up 0.2% at 196.80 pence on Thursday afternoon in London.
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