Encouraging start to year for Croda

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Chemical producer Croda International saw first quarter sales up 4 per cent, on the same period last year, in what the company called an encouraging start to the year.

Reported sales also rose by 4 per cent to £284.9m. Currency translation had no material overall sales impact, with the benefit of a stronger US dollar offset by weakening of the Euro against Sterling.

Chairman, Martin Flower, said: “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.”

The firm saw continued growth in its Personal Care division with sales up 1.8 per cent, 3.4 per cent in reported currency, over the same quarter of 2014.

The company said its increased proximity to customers helped it secure a record number of collaboration agreements with global accounts, providing a firm foundation on which to grow the business.

There was also strong sales growth in Life Sciences, up 15.8 per cent over the same quarter in 2014, driven by high purity chemistry.