Croda regains footing after bad beginning to 2009
Croda’s strong sales trend, begun in the third quarter of 2009, has continued into the fourth, boosting the company’s full-year results following a poor start to 2009.
Croda’s strong sales trend, begun in the third quarter of 2009, has continued into the fourth, boosting the company’s full-year results following a poor start to 2009. The raw ingredients specialist reported fourth quarter pre-tax profit of £30.9m (up 44.4%) on sales of £230.6m (up 9%), which boosted profit for 2009 to £106.4m, a year-on-year increase of 10.5%. Revenue for the full year totalled £916.2m, an increase of 0.6% on 2008.
Croda, which saw pre-tax profit slump 13.8% versus the previous year in the first half of 2009, describes its fourth quarter results as “encouraging” and chairman Martin Flower has said he is “confident of achieving significant progress in the current year”.
