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26 February 2019

Croda - the most interesting company you’ve never heard of?

Speciality chemicals company Croda International has today (26th February 2019) announced a £150m special dividend as it said full-year adjusted pre-tax profits rose 3.5% to £331.85m.
 
Robert Hughes, stockbroker at investment management and stockbroking firm Redmayne Bentley’s Beverley office, said: “Based in Snaith, near Goole, the FTSE 100-listed company boasts a 94-year history and originally manufactured lanolin, a product widely used in cosmetics. Perhaps more famously in 1990 it developed Lorenzo's oil, a product used to treat adrenoleukodystrophy.
 
“Croda was expected to return cash to shareholders when it announced its results today, and this is exactly what they have done. They declared a special dividend of £150m equivalent to 115p per share, ahead of the consensus forecast.
 
“The company has said it is prepared for and has made contingency plans for Brexit, however with 96% of sales and 80% of production outside of the UK they are perhaps better placed to cope than many UK companies. They manufacture on 30 sites and all but four are outside the UK.
 
“The management has been very successful in expanding the business. In its update, it said,
while global market conditions remain challenging, it continues to invest for the future and is confident that its strategies of ‘Growing the Core’ and ‘Stretching the Growth’ – which includes accelerating delivery through innovation and investing in disruptive technologies and new growth opportunities - will deliver further progress in 2019.”
 
Ends
 
Please note that investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested. Please note that this communication is for information only and does not constitute a recommendation to buy or sell shares in Croda.
 
 
 
Croda - the most interesting company you’ve never heard of?
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