Copied from Croda's web site, it gives a quick insight into the niche markets in which this company specialises ...... They also own Uniquema, which is how the latter fits in ......

Croda isnt a household name but household names have made us successful. Within our core speciality chemicals business we focus on personal care, health care, home care and plastics additive markets.

Uniqema (cynic adds - acquisition completed 1/9/06) provides base oleochemicals such as fatty acids, polymerised fatty acids, glycerine and soap to a global market. With years of experience and technical advancements, Uniqema is a global market leader.


Now you have the outline, here are the charts to follow ..... Croda has generally been a steady performer, and none the worse for it ...... the chart today, following the announcement of a sale of a part of the biz, sp has moved upwards with indications that it could be about to break upwards .... and i have backed my mouth with my money

Speciality chemicals group Croda International was another high riser after JP Morgan Cazenove upgraded the stock to 'overweight', lifting its target price from 2,220p to 2,600p.

Chemicals company Croda International was in demand as traders remained ambivalent about which direction stockmarkets are heading.

Croda, which makes speciality chemicals for beauty and healthcare products, perked up 58p to £21.83 on speculation its second-quarter figures, due on July 24th, will beat market expectations.

Martin Evans, an analyst at JP Morgan Cazenove, appeared to trigger the speculation after he said in a note that second-quarter results are likely to be "robust".

"Some year-on-year currency pressure from the adverse £/€ rate is likely ... but equally input costs we suspect have begun to trend lower which may provide a cushion in the second quarter," said Mr Evans.

Mr Evans who upgraded the Croda to "overweight" from "neutral" concluded: "The combination of newer products and relatively robust pricing initiatives should allow the high margins of around 30pc to be maintained - or even go slightly higher as costs remain under control and price rises benefit the overall return."

One for the Sipp. yup

Croda International has dropped 8% to 2,315p since last Monday, although the speciality chemicals firm has not issued any formal news to shareholders since July.

Simple profit-taking could be one reason for Croda's decline. Even with the recent fall, this share has gained 28% since the start of the year. Loyal investors will not be worrying too much either, as the price has advanced six-fold since late 2008 and 11-fold since early 2003.

July's half-year results showed both earnings and the dividend up 8%.

DC - "Loyal investors will not be worrying too much either" Really? Guess the ones who took the profits certainly wont be mate. :O) One to watch.

Still doing very well this year. :-))

DC - Can't knock it mate, been a marvelous ride. May have a dabble myself when it gets back over 50DMA, could be tomorrow,next week or a week on Tuesday:O)

Shortie - One for the Sipp Yup? Nope? errrr Ma,May, Maybe....?

On a more serious note slight hiccup no doubt, but would help if the company gave us a bit of clue don't you think?

Agree Chris, Its a good company, so should recover. Have a look at Fidessa (FDSA).
Off to Malta in the morning. No DC for a week. lol

Enjoy DC, have a good un:O)

Cheers Chris.

Chris Carson - I think your comment was aimed at me ratehr than Shortie.

Why would it not be for the SIPP? Pension plans are for longer term investments, stocks that pay a dividend etc. I think as a trader maybe you can't see beyond next Monday. It certainly is one for the SIPP and just because it's lost a few % doesn't make that statement wrong. Ta-da

chuckles - Apologies, your quite correct my comment was aimed at you oooops, who the fxxx is shortie, sorry mate. Sense of humour by-pass required? no offence intended:O)

Chris Carson - I never considered that you required a sense of humour by pass!

No offence taken old bean, nice to see you rsing to the bait, hehe :))

Croda is a speciality chemicals business. One of the company's biggest markets is the supply of chemicals to the beauty and personal care industries.

Croda has been one of the market's big success stories of the last five years. Since 2007, the shares are up 260%, propelling the company into the FTSE 100.

In the last five years, dividends at Croda have increased, on average, by 30.9% per annum. Remarkably, earnings have outstripped this: rising 39.5% a year on average in that time.

With its interims in July, the company reported an 8.1% increase in eps and earnings. This is in-line with the market's expectations for the full year.

Croda's success has been acknowledged by its high market rating. However, with an increasing number of people being prepared to spend on beauty products, it is not difficult to see the company's growth continuing. Perhaps one to take another look at, should a wider market setback occur.

Croda sells Italian business, positive start to Q4
Thu 01 Nov 2012


LONDON (SHARECAST) - Speciality chemicals manufacturer Croda Interntional has announced that has sold its Italian business based in Cremona to a private company located in Italy for a consideration equivalent to the working capital value.

Completion of the sale is expected to take place before the year-end. In the first nine months of the year it had a turnover of £25.4m (2011: £32.2m) and made an operating loss of £0.1m (2011: operating profit £4.1m).

The announcement comes as the firm reported a positive start to the fourth quarter despite the market remaining weak, particularly in Europe.

Trading in the third quarter was robust considering the depressed market conditions, the firm said, with underlying group sales up 3.2% compared to 2011.

Month to month trading has been "volatile", Croda warned, saying sales were in line with expectations in July and August, but trading weakened in September, which is usually a strong month for the firm.

Turnover declined in Europe, but experienced growth in all other major regions. Volumes were up 8.9% overall but the strongest growth came in lower value products in Performance Technologies and Industrial Chemicals (which were weak in the third quarter of 2011). As a result average selling prices dropped by 5.7%.

Operating margins climbed 23.3% from 22.3% in 2011, and consequently continuing operating profit increased 4.7% to £59.7m (2011: £57.0m) and continuing pre-tax profit increased 4.4% to £59.3m (2011: £56.8m).

Against a "very strong" third quarter in 2011, Consumer Care sales were down 2.7% due to slow Personal Care sales, particularly in Europe. Health Care and Crop Care both saw sales increase in the three month period. Performance Technologies sales were up 2.5% at £94.7m (2011: £92.4m).

Industrial Chemicals performed strongly with sales up 16.1% to £20.9m (2011: £18.0m). Profits in this sector increased 40.0% to £2.1m (2011: £1.5m).

In a statement the firm said: "Despite the soft trading environment in Europe and the currency headwinds, our operating profit for the year to date at £193.5m is 8.2% ahead of a strong 2011 comparative period. This continues to vindicate our strategy of concentrating on high value, niche markets with innovative technologies, supplying to customers both large and small around the world."

Martin Flower, Chairman of Croda added: "Quarter four has started well. However, with the market remaining weak, particularly in Europe, and currency headwinds, we expect a similar performance in quarter four to that seen in the third quarter. Looking further forward, the Board remains confident that Croda has the right strategy for continued growth."

At the end of the period net debt had been reduced by £5.8m to £202.2m.

Broker snap: Goldman Sachs says 'buy'
LONDON (ShareCast) - Goldman Sachs (NYSE: GS - news) has reiterated a 'buy' recommendation on Croda International, reducing its price target to 3150p from 3340p. This still provides over 45% upside on its current price of approximately 2160p.

Following slightly disappointing third quarter results from the specialty chemicals company, Goldman analysts have lowered their earnings per share (EPS) forecasts for 2012-14 by 4% with nearly half of the reduction being a result of foreign exchange movements.

However, they believe "Croda is exposed to some of the strongest
structural growth themes (e.g consumer care) within the sector".

As a consequence they state: "We would view any weakness as an opportunity to buy a 2020 Vision Leader at a depressed valuation. Croda trades at 8.6 times 2014 estimates of EV/EBITDA [enterprise value/earnings before interest, tax, depreciation and amortisation] verses a historical average of 9.5 times, despite stronger returns relative to history."

Goldman Sachs' twelve-month price target moves to 3150p (from 3340p) and is based on 11.5 times 2014 estimates of EV/EBITDA.

Place your bets.

Goldman Sachs Conviction Buy 2,402.50 2,449.00 3,200.00 - Retains

Citigroup Sell 2,402.50 2,449.00 1,500.00 1,500.00 Reiterates

HSBC Neutral 2,402.50 2,449.00 2,750.00 2,800.00 Reiterates

Exane BNP Paribas Neutral 2,402.50 2,449.00 - 2,530.00 Reiterates

Jefferies International Hold 2,402.50 2,449.00 2,600.00 2,600.00 Reiterates

Quite a range after update.

Credit Suisse Outperform 2,505.00 3,000.00 3,000.00 Reiterates

Canaccord Genuity Sell 2,505.00 2,000.00 2,000.00 Reiterates

no doubt i've missed something, but those figures did not look at all bad and even the conservative outlook would not seem to merit the big markdown

Capital Markets Day

Croda International plc will be hosting its annual Capital Markets Day for analysts and investors this afternoon in London.

Management will present on Croda's Consumer Care division covering strategy and future growth opportunities; innovation in new technologies; innovation in Personal Care; and innovation in Health Care. No material new information will be disclosed.

The company will broadcast the meeting in a live audiocast commencing at 3:30 PM on the company's website at www.croda.com.