Business
Trading Update for the Third Quarter 2018
Trading Update for the Third Quarter 2018.
About this update from Croda International Plc
[{"type":"text","content":"\n \nRNS Number : 9490F Croda International PLC 01 November 2018 \n\nPress Release \n\n \n\n1 November 2018\n \nTrading Update for the Third Quarter 2018\n \nInnovation driving continued sales momentum in Personal Care and Life Sciences\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 2018, ended 30 September 2018 ('Q3' or 'the quarter').\n \nGrowing the Core - Core Business constant currency sales up 4.5%\nThe sales momentum seen in the first half of the year continued in Q3, with further growth across all regions and increased innovation. Constant currency sales grew by 3.4%, with the Core Business up 4.5%, driven by a strong performance in the Group's consumer businesses. Core Business year to date growth was 4.7%. Sales of New and Protected Products (NPP) reached 28.4% of total sales, with double digit percentage growth in Personal Care and a robust pipeline of new opportunities and technologies across all sectors.\n \nIn reported currency, Q3 sales for the Group were 2.9% higher and up 0.5% year to date, with currency translation headwinds moderating. Year to date profit margin continued slightly above prior year, reflecting improved product mix and pricing, growing value ahead of volume.\n \nPersonal Care sales growth driven by innovation\nConstant currency sales in Personal Care were up 4.9% in Q3 and 7.8% year to date, reflecting both price/mix and volume improvements. Demand was robust in all three business units, led by the innovation-rich Beauty Actives business. Sales to multinational customers continued to improve, with Croda ingredients selected for several major product launches, supporting ongoing growth with regional and local customers. All regions saw progress, led by healthy demand in Asia and North America, and a steady recovery in Latin America. NPP sales reached a record proportion of sector sales. \n \nExcellent sales growth in Life Sciences\nIn Life Sciences constant currency sales were up 8.5% (9.3% excluding the impact of the North American API contract which we exited at the end of 2017). Year to date constant currency sales were 4.2% higher (8.0% excluding th...