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01 Nov 2018 | 08:28

Croda affirms guidance as sales tick up in Q3

Chemical company Croda reaffirmed full-year guidance Thursday after reporting that its sales grew 3.4% in the third quarter, driven by a strong performance in the group's consumer businesses.

Core business year-to-date growth was 4.7%, while sales of new and protected products reached 28.4% of total sales, with double digit percentage growth seen in personal care, the company said.

In reported currency, third-quarter sales for the group were 2.9% higher and up 0.5% year to date, as the impact of currency translation headwinds moderated.

The company said it was on track to deliver on its expectations for the year. 'This has been another strong, consistent quarter of growth for Croda. It is encouraging to see ongoing momentum in our consumer businesses, underpinned by innovation and our unique customer intimacy, supported by our 'value over volume' progress in Performance Technologies,' said Steve Foots, Chief Executive Officer 'We are delivering our strategy of 'Growing the Core', driving top line growth at industry leading margins to achieve superior returns, and 'Stretching the Growth', accelerating delivery across our markets.'

At 8:28am: (LON:CRDA) Croda International PLC share price was -1.5p at 4818.5p

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