Treatt Share Discussion Threads

[jockthescot75] 02/12/2020 21:41

Yes. Here if you subscribe

[...]

[3800] 02/12/2020 20:56

Was that recently vprt?

[vprt] 02/12/2020 19:01

Lord Lee is naturally also happy with this one, writing in his Financial Times column: "Treatt is a standout in a tough year for my portfolio"

[...]

[truffle] 25/11/2020 09:55

Yes, agreed with all the above, and a long term hold for me.

Not quite sure why the traded volumes are never that big but perhaps the free float is not as large a percentage as one thinks or else the institutional holders and others are simply sitting on their investments too.

[edwardt] 25/11/2020 09:49

i just checked - over 10 years this has beaten microsoft share return. i have added a position as little elephants can gallop too.

[vprt] 25/11/2020 09:38

Yes, this is a top quality company for long term investors, with a great combination of margin expansion (from more value added and also lower processing costs with efficient new production facilities in US and soon UK), growth and increasing returns on an increasing capital base.

I highly recommend the latest investor presentation ("Presentation to Major Shareholders November 2020"), and especially these points on pages 8, 11, 13 and 14:
- Revenue growth is from product categories with the highest margins (P8)
- Customer relationships are long term + across many product categories (P13)
- Clear margin improvement and higher value added over time (P14)
- Aim to increase ROCE from 16.7% towards 20-25% (P11), which when keeping in mind the significant capex means a chunky bottom line, especially from 2023 onwards

In the "Presentations" section of the website - not sure the link will work:
hxxps://www.treatt.com/content/5-investor-relations/1-financial-results-presentations/presentations-media/20201124-presentation-to-major-shareholders-november-2020/2020.11-preliminary-results-city-final-final-final1.pdf

[partridge1948] 24/11/2020 15:14

Healthy looking set of results and this year has started strongly. Still net cash at 30th September, no doubt helped by construction delays in first lockdown, but large cap ex is on budget. Earthoil finally gone - a distraction now out of the way. Increase in divi a surprise given the large cap ex under way, so a sign of confidence.Highly rated,but the story remains intact.Interesting recent purchase by Croda of Iberchem, a fragrances and flavours business in Spain, suggests the market has attractions for some big players.Always dyor.

[anley] 06/11/2020 15:18

BLACKROCK mopped up a few more shares to over 11%........that's a big holding in this small company.

[vprt] 29/10/2020 09:06

Thanks, robow, below is more of the text available to non-subscribers (like me):

"Treatt is in a sweet spot and you should buy now

This diversified natural extracts and ingredients provider is real high quality business

29 October 2020|Great Ideas Issue: 29 Oct 2020 - Page 11

We think that shares in extracts-to-ingredients supplier Treatt (TET) can maintain the momentum they have shown since the market bottomed in March. Under chief executive Daemmon Reeve, Treatt’s margins are improving thanks to a focus on added-value products and the company is primed to profit from consumer trends including a preference for natural products, the growing interest in health and ... "

[robow] 29/10/2020 08:50

TET gets a terrific write up in Shares magazine this week.
'Treat is in a sweet spot and you should buy now.'

[anley] 26/10/2020 17:05

AND Blackrock mopping up a few more..........

[anley] 12/10/2020 12:41

So right PARTRIDGE...........a steady growth share and business.

[partridge1948] 09/10/2020 14:02

Agreed. Told my (adult) children that barring unforeseen circumstances to keep these in their ISAs for at least 10 years. Currently working from I think six different (and rather tatty)sites on small industrial estate, so operating efficiency gains should be significant in the new purpose built facility, irrespective of other benefits.

[vprt] 09/10/2020 10:58

Yes, solid, resilient and reassuring. Glad to see construction on track and budget. They are building for several good reasons, including expected continued revenue growth and to make production more efficient (reduce COGS, improve GM). I am in firm "long term hold" mode and try to look through to 2022 or 2023 when they are operating using the new site only, with cutting edge equipment, simpler processes, gradually shifting the product mix towards higher margin, and with room to scale - hopefully with operating leverage to come through in the following years.

[partridge1948] 09/10/2020 10:24

Pretty impressive TU in my view, given that some product goes to beverage trade impacted by covid19. Profit forecast to be at pre covid estimates as they move to some lower revenue but better margin products. Still net cash (just) after substantial cap ex on new UK factory - construction delayed by covid earlier in the year but on budget and now due for completion next Spring. Not cheap, but quality comes at a price. Always dyor.

[vprt] 21/8/2020 11:57

£6 well broken, new all time high... Has anyone seen any news / explanation?

[marcela9] 23/7/2020 11:18

Silence is golden.....just like this share!

[edwardt] 15/7/2020 20:55

Problem is I am waiting for a decent dip but I am running out of breath.

[johndoe23] 12/5/2020 08:04

At 30 x earnings, the share price is fully up with events. Just my opinion...

[from8to800] 12/5/2020 07:03

The definition of tepid. Don't expect much of a move from here, IMO.

[robow] 11/5/2020 10:37

Blackrock increasing

[partridge1948] 07/4/2020 10:25

Trading update shows what a first class business this is.Not many can say Cv-19 has had little or no adverse effect. New build understandably delayed, but should not affect ability to meet customer demand in the short term at least. Locked away in the ISA.