26 March 2026

TREATT PLC

("Treatt" or the "Group")

AGM Trading Update

Encouraging momentum entering H2 supporting confidence in full year delivery

Treatt, the manufacturer and supplier of a diverse and sustainable portfolio of natural extracts and ingredients for the beverage, flavour and fragrance industries, provides the following update on trading for the half year ending 31 March 2026, ahead of the Group's Annual General Meeting to be held later today.

In Heritage, the citrus market headwinds experienced in FY25 have begun to show initial signs of easing, providing confidence that volumes will see some positive momentum into H2, although we continue to expect that a full recovery will take some time to come through. During the half, Treatt has made full use of its technical expertise and product capabilities to support customers and protect relationships by developing new, price-stable solutions, including the planned launch of powdered citrus extracts, in line with expectations.

In Premium, challenging market conditions impacting end consumer demand continue, 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. The pipeline of opportunities remains healthy across higher-value Premium categories.

Treatt has continued to see encouraging progress in New Markets, particularly in China. The new Shanghai Innovation Centre is fully operational and we are already benefiting from closer collaboration with customers. In China we have delivered double digit growth in H1, in line with expectations, with this performance expected to continue into H2.  In Asia more generally, we continue to be excited by the distribution partnership with IMCD, and the rollout is on track.

Trading in the year-to-date has progressed as anticipated, with a quiet first quarter, consistent with prior years, followed by increasing momentum in the second quarter. 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. Supported by a combination of ongoing market recovery within citrus, continued customer engagement and a robust order pipeline, the Board expects to deliver a full year performance in line with management expectations with a greater weighting to the second half for FY26 than in FY25.

The recruitment processes for both CEO and NED roles remains well underway. 

Manprit Randhawa, CFO and Interim Group Managing Director, commented:

"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."

Notice of results

Treatt's results for the half year ended 31 March 2026 are expected to be announced on 12 May 2026.  Because this year's AGM is later than usual, and is accompanied by this early trading update for the half year ending 31 March 2026, the Board does not expect to issue a further trading update in April 2026 as it has done in previous years. Instead, it will be provided with the Group's half-year results announcement, expected to be on 12 May 2026.

ENQUIRIES

Treatt PLC                           +44 (0) 1284 702500

Manprit Randhawa           Chief Financial Officer and Interim Group Managing Director

Kelly Gordon                      Group Finance Director

Joint Brokers                         

Investec Bank plc               +44 (0) 20 7597 5970                 
David Anderson

Peel Hunt LLP                     +44 (0) 20 7418 8900
George Sellar

Financial PR

MHP                                     +44 (0) 7701 308 818

Tim Rowntree                     treatt@mhpgroup.com

Eleni Menikou

About the Group

Treatt is a global, independent manufacturer and supplier of a diverse and sustainable portfolio of natural extracts and ingredients for the flavour, fragrance and multinational consumer product industries, particularly in the beverage sector. Renowned for its technical expertise and knowledge of ingredients, their origins and market conditions, Treatt is recognised as a leader in its field.

The Group employs in the region of 350 staff in Europe, North America and Asia and has manufacturing facilities in the UK and US.  Its international footprint enables the Group to deliver powerful and integrated solutions for the food, beverage and fragrance industries across the globe.

For further information about the Group, visit www.treatt.com.