Croda records ‘encouraging’ first half performance

Croda International, the speciality chemical ingredients company, said that innovation was driving profitable growth, as it delivered its half year results for the six months ended June 30 2015.

The company said it had achieved continued momentum in personal care, where it had achieved a strong margin, and it had also recorded “excellent growth” in life sciences.

Adjusted pre-tax profit was £135.7m, compared with £125.3m in the same period the year before.

Martin Flower, the chairman of Croda, said: “Croda’s performance in the first half of 2015 has been encouraging. The recovery in underlying sales trends, which began in the second half of last year, has continued to strengthen, operating margin has remained strong and pre-tax profit has increased over 8%.

“This progress has been underpinned by record sales of new and protected products. We expect to continue to deliver growth through the second half of the year, albeit against a stronger comparator period.

“Whilst conditions remain uncertain in Europe, we are encouraged by recent growth. Overall, we remain on track to deliver our expectations for the full year and to generate strong returns for shareholders.”