|
Croda International PLC on Wednesday said it has made an encouraging start to the year with good sales growth and profit in line with expectations. The Yorkshire-based speciality chemicals maker said sales rose 8.1% to £442 million in the first quarter of 2025 from £409 million a year prior, or by 9% at constant currency. ‘Good sales growth was driven by higher sales volumes with the price/mix headwinds we saw in 2024 starting to diminish,’ the company said in a statement. Analysts at Jefferies said sales were 5.7% higher than Visible Alpha market consensus of £418 million. Overall, adjusted pretax profit in the first quarter was in line with company expectations, Croda said. As a result, the company expects to deliver £265 million to £295 million group in adjusted pretax profit at constant currency in all of 2025, compared to £279.7 million in 2024. This is despite a political and economic environment which has become ‘less predictable,’ it added. In response, shares in Croda jumped 8.6% to 2,957.33 pence in London on Wednesday morning. By division, revenue in Consumer Care rose 8%, in Life Sciences by 10% and in Industrial Specialties by 6%. Croda said it is assessing the likely impact of trade tariffs and said it will apply a tariff surcharge to cover any associated incremental costs. Croda will report half-year results on July 29. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
