Ingredients and flavours manufacturer, Treatt, has posted a 10.1% jump in profit before tax and exceptional items to £19.1m in its latest annual results.

The group’s figures, for the year ending 30 September, also showed revenue growth of 3.8% to reach £153.1m over the 12 months.

Treatt is an independent manufacturer and supplier of natural extracts and ingredients for the flavour, fragrance and multinational consumer product industries, particularly in the beverage sector.

The company said its revenue in the latest financial year was driven by strong H2 growth of 13%, reflecting “organic growth from new business wins” and a “normalisation in industry demand”.

As a result of the performance, which came in slightly ahead of the board’s expectations, Treatt also announced a full year dividend of 8.41 pence, which was up 5% and reflects the company’s “progressive dividend policy”, it said.

Treatt CEO, David Shannon, said that the company had made “great progress” with growth in both sales and profit, boosted by a “really strong revenue performance in the second half”.

“I am particularly pleased that we have brought net debt right down thanks to our strong cash generation, with further momentum to be cash positive in the new financial year,” added Shannon.

“This performance not only reflects good conversion of the order book and the strong cost discipline that's now embedded across the group, but also normalising demand trends and the benefits of investment.

“We have invested for growth, expanding our commercial teams, bringing them closer to customers, and are close to opening our new Shanghai innovation centre, in line with our strategic focus in the region.”

---