Treatt PLC (LON:TET) said trading has not been by the coronavirus pandemic to date and raised the interim dividend by 8%.
The ingredients producer said it is difficult to provide guidance, though trading is currently in line with expectations, as consumer habits in its markets may change, with at-home consumption rising steeply as the on-trade’ and out-of-home markets plunge.
However citrus raw material prices have been stabilising during the first half of the financial year, which is expected to have a positive impact in the second period.
The firm expects further benefits from the re-opening of the Chinese markets and the momentum in tea, health & wellness and fruit & vegetables categories.
In the six months to 31 March, revenue dropped 5% to £53mln for profit before tax down 2% to £6mln because of higher citrus prices.
The interim dividend was hiked 8% to 1.84p per share, to be paid in August.
At the end of the period there were £6mln in the bank, with £25mln in borrowing facilities.
Shares rose 2% to 502p on Tuesday in early trading.