Croda International H1 Pretax Profit Rises; Sales Down 0.6% – Quick Facts

Croda International Plc (CRDA.L) reported profit before tax of 170.8 million pounds for the six months ended 30 June 2018 compared to 168.0 million pounds, up 1.7% from last year. Earnings per 10.36p share was 97.0 pence compared to 91.5 pence. Adjusted profit before tax increased to 175.0 million pounds from 169.7 million pounds. Adjusted earnings per share was 99.7 pence compared to 92.5 pence.

For the half-year, sales were 702.8 million pounds, down 0.6% from prior year at reported currency, after adverse impact of stronger Sterling on translation of 4.1%. In constant currency, sales increased by 3.6%. In the Core Business, constant currency sales increased by 4.7%, for the period. Interim dividend increased by 8.6% to 38.0 pence.

Steve Foots, CEO, said: “This is a strong first half performance. We are delivering our strategy of ‘Growing the Core’, driving top line organic growth at industry leading margins to achieve superior returns. Alongside this, we are ‘Stretching the Growth’, accelerating delivery across our markets by investing in disruptive technologies and exciting new growth opportunities. We have encouraging momentum in our consumer businesses and Performance Technologies has delivered double digit percentage profit growth for the third successive year, strong progress that is supported by improving cash generation, underpinning confidence for the full year.”

by RTTNews Staff Writer

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