Business
Results for the year ended 31 December 2016
Results for the year ended 31 December 2016.
About this update from Croda International Plc
[{"type":"text","content":"\n \nRNS Number : 9913X Croda International PLC 28 February 2017 \n\n28 February 2017 \nResults for the year ended 31 December 2016\n \nRelentless innovation driving record profit\nCroda International Plc (\"Croda\" or the \"Group\"), the speciality chemical company that creates high performance ingredients and technologies relied upon by industries and consumers globally, today announces its full year results for the year ended 31 December 2016.\nFull year Group highlights (reported currency):\n· Record profit delivered, with profit growth in all Core Business sectors. Adjusted profit before tax up 13.2% at £288.3m\n· Robust sales growth, up 15.0%, driven by Incotec, innovation and progress in high value markets, together with positive currency translation \n· Relentless innovation creating more IP-protected business across all sectors, with sales of New & Protected Products (NPP) up 20% to 27.4% of total sales\n· Excellent margin and return on capital retained, with return on sales of 24.0% and ROIC at 19.3%\n· Impressive cash generation with free cash flow of over £155m, supporting net capital expenditure of over £100m, a 7.2% increase in ordinary dividend and further de-leveraging after special dividend payment of £136m in June 2016.\n \n\n\n\n\n \n\n\n2016 reported currency\n\n\nConstant\ncurrency\nchange\n\n\n2015\n\n\n\n\n \n \n\n\n \n£m\n\n\nYear on year change\n\n\n \n£m\n\n\n\n\nSales\n\n\n1,243.6\n\n\n+15.0%\n\n\n+3.1%\n\n\n1,081.7\n\n\n\n\nAdjusted operating profit\n\n\n298.2\n\n\n+12.9%\n\n\n+4.6%\n\n\n264.2\n\n\n\n\nAdjusted profit before tax\n\n\n288.3\n\n\n+13.2%\n\n\n+4.8%\n\n\n254.7\n\n\n\n\nAdjusted basic earnings per share\n\n\n155.8p\n\n\n+15.4%\n\n\n \n\n\n135.0p\n\n\n\n\nFree cash flow\n\n\n155.5\n\n\n+32.3%\n\n\n \n\n\n117.5\n\n\n\n\nLeverage (net debt/EBITDA)\n\n\n1.1x\n\n\n \n\n\n \n\n\n0.8x\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nIFRS profit before tax\n\n\n275.7\n\n\n+9.3%\n\n\n \n\n\n252.3\n\n\n\n\nIFRS basic earnings per share\n\n\n148.2p\n\n\n+11.2%\n\n\n \n\n\n133.3p\n\n\n\n\nOrdinary dividend per share (declared)\n\n\n74.0p\n\n\n+7.2%\n\n\n&nb...