Business
Trading Update for the Third Quarter 2017
Trading Update for the Third Quarter 2017.
About this update from Croda International Plc
[{"type":"text","content":"\n \nRNS Number : 0254V Croda International PLC 31 October 2017 \n\nPress Release\n \n31 October 2017 \n \nTrading Update for the Third Quarter 2017\n \nContinued organic growth driven by Personal Care; full year outlook affirmed\n \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 updates on its trading during the third quarter 2017, ended 30 September 2017 ('Q3' or 'the quarter').\n \nContinued organic growth - Core Business constant currency sales up 5.7%\nThe improved sales trend seen in the first half of 2017 continued through Q3 with Group constant currency sales up 4.4% in the quarter and 4.0% year to date. Across the three core sectors (the 'Core Business'), constant currency sales in Q3 grew 5.7% (up 4.8% year to date). This was driven by a strengthening performance in Personal Care, with constant currency sales up 7.5%, building on the recovery seen in the first half of the year; Performance Technologies recorded another robust performance, with sales up 7.0%; and Life Sciences achieved modest sales growth, up 0.7%. \n \nIn reported currency, Q3 Group sales grew 6.1% to £334.6million (Q3 2016: £315.3m), including a 1.7% benefit from currency translation. Year to date sales were 12.8% higher, including a currency translation benefit of 8.8%. Q3 profit margin increased slightly over prior year, reflecting improved product mix and pricing, with a successful focus on growing value ahead of volume.\n \nExpanding in fast growth geographies \nIn the Core Business (measured in constant currency) action taken to restore growth to North America continued to benefit performance across all sectors, with sales up 8% in the quarter. Asia maintained its strong momentum, growing sales by 6%, reflecting the benefits of increased proximity to local and regional customers following the transfer of distributor sales to our direct selling model. Sales in Europe grew by 7%, benefiting from robust demand in Personal Care. Macro-economic conditions in Latin America remained challenging, with sales 2% lower, although there are some signs of improvement emerging. \n \nStrengthening Personal Care sales driven by growth in all regions \nSales in Personal C...