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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Treatt
Treatt (TET) investor relations material
Treatt H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary12 May, 2026
Executive summary
Revenue declined 6.5% year-over-year to £59.9m, mainly due to lower Heritage and Premium volumes and slow citrus recovery.
Adjusted EBITDA fell 18.1% to £5.4m, and profit before tax and exceptionals dropped 33.4% to £2.5m.
Strategic progress included growth in health & wellness, new powdered citrus products, and strong expansion in China.
A recommended cash offer from Döhler Finance Management B.V. at 305p per share was announced.
Financial highlights
Gross profit margin was 24.9%, down 20 bps year-over-year; adjusted operating margin declined 130 bps to 4.7%.
Net debt at period end was £4.4m, improved from £5.9m at year-end 2025, reflecting robust cash generation.
Adjusted basic EPS was 3.04p (down 33.3%), statutory EPS 2.48p (down 31.7%).
Cash inflow from operations was £2.8m, with inventories reduced by £1.2m.
Outlook and guidance
Full-year performance expected in line with management expectations, with greater weighting to H2 due to ongoing citrus recovery and robust order pipeline.
Macroeconomic and geopolitical pressures persist, but cost control and customer engagement remain priorities.
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Latest events from Treatt
- Revenue and margins declined, but cost control and APAC expansion support FY26 recovery.TET
H2 2025 - FY 2025 revenue and profit guidance cut; focus shifts to efficiency and future growth.TETTrading Update
- Record sales, 6% revenue growth, and a strategic shift toward premium and Asian markets.TETH2 2024
- Strong H2 momentum drove profit and revenue growth, with net debt sharply reduced.TETTrading Update
- Revenue and profit fell, but strong cash flow and strategic wins support future growth.TETTrading Update
- Q2 starts strong with robust orders; outlook and cash generation remain on track.TETTrading Update
- Revenue and profit fell, but strong cash flow and strategic wins support a confident outlook.TETH1 2025
Next Treatt earnings date
H2 20261 Dec, 2026
Treatt
Next Treatt earnings date
H2 20261 Dec, 2026
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Frequently asked questions
Treatt plc, together with its subsidiaries, manufactures and supplies various natural extracts and ingredients to the flavor, fragrance, beverage and consumer product industries in the United Kingdom, Germany, Ireland, China and Internationally. The company offers flavor ingredients such as citrus, coffee, tea, health and wellness and fruits and vegetables extracts; aroma natural high impact chemicals; herb spices floral ingredients. In addition the company provides fragrance ingredients such as blends and unique dilutions.