UK’S Croda Q4 operating profit rises 5.1% on higher sales growth

26 February 2013 08:31  [Source: ICIS news]

SINGAPORE (ICIS)--Croda International reported a 5.1% year-on-year increase in its Q4 operating profit to £61.9m ($93.8m, €72.0m) on higher sales in all of its business segments, the UK-based specialty chemicals firm said on Tuesday.

Croda posted a 2.2% year-on-year rise in its Q4 sales to £240.1m, the company said in a statement.

For the full year of 2012, the company’s operating profit grew by 7.4% to £255.4m, with sales reaching £1.05bn, up by 2.3%, Croda said.

Croda’s industrial chemicals segment saw full-year sales drop by 0.4% to £82.7m, while operating profit decreased by 8.0% to £10.3m, the company said.

“Economic uncertainty continues, particularly in Europe, but we have made an encouraging start to the year and the board is confident that Croda will make further progress in 2013,” said Chairman Martin Flower.

($1 = £0.66, €1 = £0.86)

By: Surinder Malhi
+65 6780 4327

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