Neville Prior

Croda Sees Rise in Sales in Early 2015

Neville Prior  24 April 2015 12:07:45 PM
Specialty chemicals maker Croda International Plc. announced Wednesday that 2015 has started in line with its expectations, with group sales for the first quarter increasing 4.0 percent, at constant currency translation, to 284.9 million pounds from 274.0 million pounds last year amid growth across all three core sectors. In its trading update for the first quarter of 2015, the company said continuing sales growth was supported by increased innovation and investment. The company noted that currency translation had no material overall sales impact, with the benefit of a stronger US dollar offset by weakening of the Euro against Sterling. Personal Care growth continued, with sales rising 1.8 percent or 3.4 percent in reported currency. Sales in Life Sciences grew 15.8 percent or 16.3 percent in reported currency, while growth in Performance Technologies slowed to 0.4 percent or down 0.7 percent in reported currency. sales in Industrial Chemicals increased 2.0 percent or down 0.9 percent in reported currency. The company said group profit margin also increased slightly over a year ago. "We have made an encouraging start to the year, with sales growing across all our core sectors. This has been supported by increased innovation and investment. We expect to continue to deliver profitable growth through 2015." Chairman Martin Flower said in a statement.
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