High demand for personal care at Croda

Tuesday 27th July 2010

Sales are up for Croda on the back of high demand in personal care but predicting future trends remains difficult for the UK-based chemicals company.

Overall sales for the company in the second quarter of 2010 (up to June 30) were up 38.4 per cent, coming in at ₤268.6m (€319.7m).

Sales for the Consumer Care division during the quarter, which includes the home care, crop care and personal care segments, stood at ₤136.3m, up 27.3 per cent compared to 2009's second quarter results, with the personal care segment showing the biggest sales increase out of the three business areas.

While there were significant increases (₤132.3m compared to ₤87.8m) in Industrial Specialities in the second quarter compared to last year's figures, this shows recovery from last year's recession more than a significant increase in new customers or inventories, Croda said.

Operating profit in the quarter also looked healthy, with profits increasing 114.6 per cent from £25.4m to £54.5m.

Looking ahead, the company said the positive trend had continued into the first half of 2010 but warned visibility was still very limited.

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