25 July 2017
VIEW FULL PRESENTATION OF CRODA H1 2017
DETAILS
today announces its half year results
for the six months ended 30 June 2017.
First half year highlights (reported currency):
• Sales up 16.2% driven by continued organic growth
across all Core Business sectors,
together with positive currency translation
• Margin performance maintained,
with return on sales of 24.9%
• Adjusted profit before tax up 14.3% at £169.7m,
reflecting profit growth across the Core Business
• Relentless focus on innovation,
with sales of New and Protected Products (NPP)
increasing to almost £200m
• Continued cash generation supporting
peak organic investment, and strong balance sheet.
Free cash flow of over £40m,
leverage ratio of 1.0x and 6.9% increase in interim dividend
• Full year outlook affirmed.
Steve Foots,
Croda’s Chief Executive Officer
“Our strategy delivered a good first half performance
with all Core Business sectors growing sales and profit organically,
highlighting Croda’s increased breadth across three growth sectors.
This was underpinned by
* growth in premium market niches,
* continued organic investment
* and our relentless focus on innovation.
It was encouraging to see growth coming
from a broad base of both product and geography.
Alongside an improved sales trend, we delivered
adjusted operating profit growth of over 5% in constant currency
and over 15% in reported currency.
“Our priorities for 2017 remain unchanged:
to drive profitability through premium, faster growth niches;
improve performance in less differentiated markets;
and continue to grow margins
in Life Sciences and Performance Technologies.
We are confident of delivering continued progress
through the remainder of 2017.”
For enquiries contact:
Croda:
Conleth Campbell,
VP Investor Relations
+44 1405 860551
Teneo Blue Rubicon:
Charlie Armitstead/ Rosie Oddy
+44 20 3603 5229
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