Business
Trading Update for the third quarter of 2015
Trading Update for the third quarter of 2015.
About this update from Croda International Plc
[{"type":"text","content":"\n \nRNS Number : 5469E Croda International PLC 05 November 2015 \n\n5 November 2015\n \nCroda International Plc\nTrading Update for the third quarter of 2015\n \n \nContinued sales growth and improved margin, driven by robust performance in consumer markets and strong innovation\n \nCroda International Plc (\"Croda\" or the \"Group\"), a world leader in speciality chemical ingredients, today updates on its trading during the third quarter of 2015 (\"Q3\", \"the quarter\" or the \"period\"), ended 30 September 2015. All sales are at constant currency translation unless otherwise stated.\n \n· Group sales up 2.3% in Q3 with continued growth in consumer sectors\n \nQ3 sales increased by 2.3%, with year-to-date growth to the end of the third quarter (\"YTD\") of 4.3%. As anticipated at the time of the Group's interim results in July, sales growth slowed in Q3, reflecting a stronger comparative period. Nevertheless, growth in our consumer-facing Personal Care and Life Sciences sectors continued. Industrial markets were more challenging during Q3, which impacted our Performance Technologies sector. Q3 Group operating margin increased over the prior year period.\n \nQ3 reported sales rose by 1.4% to £262.5 million (2014: £259.0m). YTD reported sales rose 3.9% to £827.1 million (2014: £796.4m). Currency translation reduced Q3 reported sales by 0.9% and profit by 1.8%, due to the impact of the weak Euro more than offsetting a stronger US dollar.\n \nOur focus on innovation continues to support improved sales, with growth of new and protected products (\"NPP\") well ahead of overall sales. Regionally, Q3 sales in Europe remained slightly positive year-on-year, with North America and Asia delivering another strong performance. Latin America was noticeably weaker in Q3, due to difficult macroeconomic conditions and the impact of local currency devaluation.\n \n· Continued growth in Personal Care, supported by regional investment\n \nPersonal Care has delivered steady growth over the last five quarters. Q3 sales were up 2.0% (1.6% in reported currency) over the same quarter of 2014. YTD sales were up 2.5% (3.5% in reported currency), with NPP sales growing at more than twice overall sales.\n \nWe saw good growth in skin actives, with...