'˜Relentless innovation' drives record profits at Croda

Croda International, the speciality chemical company, today revealed that it had delivered a record profit last year.
By The Newsroom
Published 28th Feb 2017, 09:15 BST
Updated 1st Mar 2017, 08:49 BST
Steve Foots, Chief Executive of Croda.Steve Foots, Chief Executive of Croda.
Steve Foots, Chief Executive of Croda.

In the year ended December 31 2016, the company’s adjusted profit before tax was up by 13.2 per cent at £288.3m.

The company said its relentless commitment to innovation had driven the record profits performance.

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Steve Foots, the chief executive, said: “Croda has delivered a record profit in 2016. We have grown sales through strategic acquisitions and organic growth in premium market niches, driving bottom line performance through high value products and relentless innovation.

“Our innovation pipeline is exciting, with sales from new and protected products (NPP) increasing for the fourth consecutive year and strong momentum across all market sectors. We continue to expand in higher growth markets, with Asia the stand out performer.

“We are growing with regional and smaller customers and are well positioned for the digital revolution across our customer base.”