The rise in sterling has hit another company – hard. Beauty ingredients company Croda, a major supplier to P&G and Unilever, has issued a new profits warning on the damage a strengthened pound is wreaking on earnings. Although Croda makes limited revenues from the UK, it reports – crucially – all earnings in sterling, which will come in lower than last year, Croda warned.
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.
Subscribe now Already a subscriber? Sign in here.
