UK’s Croda Q4 operating profit rises 20%, sales up 2.4%

21 February 2012 08:16  [Source: ICIS news]

SINGAPORE (ICIS)--Croda International’s fourth-quarter operating profit rose 20.4% year on year to £59.5m ($94.4m) as the group’s sales increased by 2.4% to £243.2m, the UK specialty chemicals company said on Tuesday.

“We delivered good results in the final quarter of 2011 against a strong quarter in 2010, achieving operating profit growth in both our reporting sectors despite relatively sluggish sales in December,” Croda said in a statement.

Sales in the firm’s consumer care segment grew by 9.1% to £135.1m, with operating profit rising by 30.4% to £42.9m, the company said.

Its industrial specialities unit sales for the fourth quarter, however, fell 4.8% year on year to £108.1m as a result of a marked slowdown in its European business in December. But the segment’s operating profit inched up 0.6% to £16.6m, Croda said.

For the full year 2011, Croda’s operating profit increased 22.1% year on year to £242.4m, while its net profit grew by 27.9% to £167.5m, it said.

The company’s sales last year rose by 6.6% to £1.07bn, supported by strong performance in both its consumer care and industrial specialities unit, it added.

($1 = £0.63)

By: Samuel Wong

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