Treatt acquired the company in early 2007 and, although challenging at the start, the business segment is now one of the best performing of the whole company.
This yea Treatt's results saw a 13 per cent increase in revenues for the full year ended September 30, to £56.31m (€62m) with earnings up 11.5 per cent to £5.01m (€5.52m).
Revenues from Earthoil were up 42 per cent over the previous year.
Finance director for the company Richard Hope explained how although the group is rooted in the flavour sector, it has operated more in the cosmetics sphere since acquiring Earthoil.
“Now we supply vegetable oils and organic mint which are very much aimed at the cosmetics industry,” he said.
One of the biggest successes of the year, according to Hope, was the organic and fair trade tea tree oil project in Kenya. Due to the drought the tea tree was one of the only crops that performed well this year, he explained, which helped persuade local farmers of the viability of what was a new crop for them.
Earthoil key to future success
Earthoil is a key brand for the future of the group, Hope explained, and will not only provide revenue from its cosmetic-related products but also ensure interest from the cosmetics sector for Treatt’s products.
“There are a lot of conventional fragrance oils from Treatt that are of interest to the cosmetics sector,” Hope said.
The company has received a lot of interest from blue chip companies who now buy from Treatt but didn’t before the acquisition, he added.
In addition, organic and fairtrade which are two key characteristics of the Earthoil brand are becoming increasingly important in the cosmetics world.
Consumers are increasingly keen to know where their products have come from, who made it and the conditions in which they worked, Hope said.