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Croda confident after first-quarter sales growth
(Sharecast News) - Croda International reported an 8% rise in first-quarter sales to £442m on Wednesday - up 9% at constant currency, as higher volumes offset prior year price and mix headwinds. The FTSE 100 specialty company said all three of its business segments - consumer care, life sciences and industrial specialties - posted growth, with the company maintaining its full-year profit outlook.
Consumer care led the quarter with sales of £255m, up 8% both reported and in constant currency, supported by strong local customer demand and robust performance in fragrances and flavours.
Beauty care and home care posted mid-single digit gains, while beauty actives declined slightly year-on-year but recovered strongly from the fourth quarter of 2024.
Life sciences recorded a 10% increase in reported sales to £134m, or 11% at constant currency, driven by solid growth in crop protection and seed enhancement.
Pharma sales also improved year-on-year and sequentially, with biopharma gains outweighing continued softness in consumer health and veterinary markets.
Industrial specialties contributed £53m in sales - a 6% increase on a reported basis and 7% at constant currency, also supported by volume growth.
Improved utilisation across Croda's 11 shared manufacturing sites helped drive operational efficiencies.
The group said adjusted profit before tax was in line with expectations and reiterated its 2025 forecast of £265m to £295m at constant currency.
Croda noted progress across its five-point plan to enhance financial performance, including customer engagement, innovation commercialisation, and cost base realignment.
While the company acknowledged increased geopolitical uncertainty and the introduction of global trade tariffs, it said its localised manufacturing and procurement strategy provided insulation, adding that it was assessing the impact with plans to apply a tariff surcharge if needed.
At 0812 BST, shares in Croda International were up 8% at 2,943p.
Reporting by Josh White for Sharecast.com.
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