The Treatt Directors are to propose a final dividend of 4.16p per share (2019: 3.80p), which represents an increase in the total dividend for the year of 9.1% to 6.00p (2019: 5.50p). If approved by shareholders at the Annual General Meeting, the final dividend will be payable on 18 March 2021 to all shareholders on the register at the close of business on 5 February 2021.
Other financial highlights include:
Profit before tax and exceptional items exceeded pre COVID-19 Board expectations.
Delivering good progress against 2022 strategy.
74% of Group revenue from natural and clean-label products.
Diversification of portfolio progressing well.
Strong growth in gross margin due to improved product mix and lower commoditised citrus revenues.
Revenue growth of 4.4% in non-citrus categories with 16.1% growth in health & wellness category.
UK relocation project progressing well and on budget - transition expected to commence in mid-2021.
In June 2020, the Group's Kenyan operations were disposed of for a nominal sum.