UK's Croda H1 adjusted profit before tax rises 14.3%

Source: ICIS News


SINGAPORE (ICIS)—Croda’s adjusted profit before tax rose by 14.3% year on year to £169.7m in the first half of this year on the back of strong earnings across its core businesses, the UK-headquartered specialty chemicals producer said on Tuesday.

Sales rose by 16.2% year on year to £707.3m in the first half of 2017, while adjusted operating profit was up by 15.2% at £175.8m, the company said in a statement.

“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,” it said.

“We are confident of delivering continued progress through the remainder of 2017,” Croda said.