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Trading statements

Croda sees continued sales growth

26 April 2017 08:11

Croda International said the improving sales trend seen in the fourth quarter of 2016 had continued in the first quarter of this year.

It said constant currency sales increased by 4.9%, driven by strong organic growth.

Reported currency sales increased by 19.1% to £365.5 million (Q1 2016: £306.8m), reflecting sterling's continued weakness.

It said the later timing of Easter was estimated to have benefited sales by approximately 1.5%. Constant currency sales across the three principal sectors rose by 5.3%.

Looking ahead, an update said: "We are encouraged by the group's performance in the first quarter and, whilst we expect the exceptional sales growth seen in Performance Technologies to moderate, we remain on track to deliver continued profitable progress through 2017."

At 8:11am: (LON:CRDA) Croda International PLC share price was +175p at 3834p

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