Treatt Share Discussion Threads

[cyberian] 27/11/2023 14:08

Results tomorrow 28th November so an encouraging increase in the share price today in anticipation of positive news, hopefully.

[cfro] 08/11/2023 09:49

A Vox markets interview with Rathbones Alexandra Jackson.

Treatt talked about at 13:40m:

[loofyloofy] 30/10/2023 15:28

The business is bigger than just one individual - remain positive at these levels.

[cfro] 30/10/2023 14:46

My thoughts exactly. There could be a very good reason behind the sudden retirement of Mr Reeve perhaps, we don't yet know. It may be health reasons maybe for instance.

It is rather bizarre however. Knowing how important he was to the group why would he not have been thinking about his succession if he had planned to retire? I'm sure he would have gave this at least a little thought.

[gnal2y] 30/10/2023 13:57

According to the last report and accounts the retiring CEO Reeve had a 12 month rolling notice period on his contract. Douglas Rash the director of sales (non board member)USA based gave 4 months notice. He must have been so key in the groups USA sucess. so why now does Reeve jump ship ? His sudden unexpected departure is bizarre leaving no visible sucessor which was not the case for defenestrated Bovill a decade or so ago. With a new bespoke pricey building lying quietly in East Anglia sunshine which needs some sales drive who is going to provide that ?

[marcela9] 20/10/2023 15:30

According to the FY report of 2022 the Ceo owned shares valued at 831% of salary, meaning he owned at that time between 600k and 650k shares. He has every reason to be patient.

[partridge1948] 20/10/2023 14:10

Fair point cfro, but we do not know exactly what lies behind his decision and it is likely that Reeve sees the company as undervalued at present. I believe many staff are shareholders and he would want them to realise possible gains if the business can generate the growth which the new facility can handle (if I recall correctly,approx 3 x current revenues). I do tend to look through rose tinted spectacles at Treatt, but would not want a low ball bid to take them out in the near future.

[sleepy] 20/10/2023 13:24

According to Companies House info he is only 52.

[cfro] 20/10/2023 11:49

What has narked me is the fact there is no succession planning which i feel, when the CEO has been "the" key driver of this company and it's growth over several decades, is very very important.

It is announced today that he leaves at the end of the year, that is only just over two months away! Yes, i agree the new FD looks capable however we are somewhat rudderless in the meantime..

I agree this is a sitting duck for a takeover. Especially given its much more attractive price and rating. Would it have not made more sense for Mr Reeve to put the business up for sale whilst he was in tenure giving him a more dignified exit and an endgame to his story and journey?

[marcela9] 20/10/2023 11:17

Agreed, Part - some yankees have big pockets, esp. PE…would be perfect timing. This CEO overall has done an excellent job.

[partridge1948] 20/10/2023 10:51

All been there many years and taken the business through major transition to new factory, now fully up and running. I was dismayed on first reading, but new FD has made a good start and may even step up from the interim role when Reeve retires. With state of the art production facility,debt falling fast and cautiously optimistic recent trading update, it looks imo a bit of a sitting duck for possible takeover.

[cfro] 20/10/2023 09:03

I do feel shareholders have been left in limbo. There should have been proper succession planning in place if retirement was his plan.

Alternatively with the Chairman, CFO and CEO all deciding to retire why didnt they put the whole company up for sale?

[cfro] 20/10/2023 07:30

Great, thankyou very much Mr Reeve..

I wonder if some already knew given the share price weakness?

That is all the top team gone or going. The Chairman Tim Jones left last year, The CFO Richard went a while ago now the CEO.

[1c3479z] 10/10/2023 11:10

volumes down, due to destocking, pricing up shows some good pricing power though wary of cyclicality in raw citrus prices.

[eeza] 10/10/2023 11:03

And a lot less interest to pay on the reducing debt.

[partridge1948] 10/10/2023 10:49

Year end update did not contain any nasties, which had seemed likely after recent share price falls. Cash generation excellent and they could well be cash neutral by the end of the calendar year, a great performance imo, given the huge investments made in last few years. Been a difficult few months, but mine still tucked away for the long term.

[cfro] 10/10/2023 09:18

Looks like the whisperers and the market was wrong..

With net debt down so much just shows the strong cashflow they have. The new FD totally on top of cost control and currency hedging.

Good to hear that China and Coffee was up 60%.

[edwardt] 10/10/2023 09:01

no they did not. i have to say the new fd has done very well in a difficult environment. lets hope the restocking kicks in now. they have to replenish soonish...

[viscount1] 10/10/2023 08:52

Net debt down to only GBP 10.5m, less than half last year. Surprising - did they sell something?

[niklol] 10/10/2023 08:32

Should have bought more yesterday!

[edwardt] 10/10/2023 07:32

reads well to me! go treatt!

[daisylove] 09/10/2023 16:29

Where would these whispers come from?

[viscount1] 09/10/2023 11:44

Maybe whispers about poor results coming.