Croda's profits rise after robust trading

CHEMICALS firm Croda International nearly doubled its first-quarter pre-tax profit, helped by its personal care and healthcare segments, and said it was seeing signs of restocking across the sector.

By The Newsroom

Published 28th Apr 2010, 10:29 BST

The Goole-based company, which makes ingredients for cosmetics and personal care products, remained positive about the rest of the year even though it expected raw material prices to rise in many areas.

"The robust trading has continued into quarter two and we remain confident of achieving significant progress throughout the remainder of 2010," the company said in a statement.

For the three months to end-March, the company posted a pre-tax profit of 42.4m from continuing operations, compared with 21.7m a year ago.

Revenue rose 14.7 percent to 264.7m.

Shares of the company closed at 1024 pence on Tuesday on the London Stock Exchange

Goole