Treatt PLC, a manufacturer and supplier of flavour and fragrance ingredients, reported an increase in profits for the year ended 30 September 2001.

Group turnover increased by 15 per cent to £27.6 million compared to £24.1 million for the previous year and profit before tax rose 4 per cent to £2.83m.

In a statement this week Edward Dawnay, Chairman, Treatt PLC commented: "Florida Treatt continued to perform well as sales in the USA increased by 18 per cent during the year which helped generate a significant contribution towards Group profitability."

Mr. Dawnay did warn that although prospects for 2002 were encouraging the company was still cautious about the full year result due to the possibility of further economic slowdown in the USA.

Orange oil, an orange juice by-product is an important raw material for Treatt with orange products accounting for 12 per cent of the Group's turnover in 2001. The company reported that sales of distributed aroma chemicals in the U.K. continued to grow strongly, though, it warned, a more modest level of growth is anticipated in the future.

Earnings per share for the year at 19.4 pence have increased 0.5 per cent on 2000. The Board recommended a final dividend of 5.5 pence (2000: 5.3 pence), giving a 4 per cent increase in the total dividend for the year to 8.1 pence (2000: 7.8 pence) per share.