Croda International Plc (CRDA) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.937 Good morning, everyone. Many thanks for joining us here at the London Stock Exchange 00:00:03.937 -- 00:00:07.623 today. And a warm welcome to everyone online as well. 00:00:07.623 -- 00:00:12.651 I'm here with Stephen Oxley, our CFO, who has been on board since the start of April. 00:00:12.651 -- 00:00:16.917 Stephen's been a great addition to the team and hit the ground running, not least in 00:00:16.917 -- 00:00:21.304 helping us to push forward our plan to grow earnings and improve returns. 00:00:21.304 -- 00:00:25.090 So more on that shortly. So in terms of the agenda, then. 00:00:25.090 -- 00:00:29.545 normal outline from us today and set out in the slide up there. 00:00:29.545 -- 00:00:33.759 Stephen and I will run through our performance and the progress we've made with our five 00:00:33.759 -- 00:00:37.679 point plan before stopping to take your questions. 00:00:37.679 -- 00:00:41.444 So OK then, starting with some of the key highlights from the half. 00:00:41.444 -- 00:00:45.929 Overall, our financial performance was very much in line with our expectations at the 00:00:45.929 -- 00:00:51.176 start of the year. The second quarter moderated slightly versus the first, but group 00:00:51.176 -- 00:00:56.603 sales increased by 7% for the first half. Sales grew in all three businesses 00:00:56.603 -- 00:01:01.709 and in all regions. A strong improvement in volumes across the board, more than 00:01:01.709 -- 00:01:06.996 offset a modest reduction in price mix, leading to a healthy increase in both adjusted 00:01:06.996 -- 00:01:12.743 operating profit and profit before tax. And whilst we're mindful of the challenging environment, 00:01:12.743 -- 00:01:16.208 our guidance for the full year remains unchanged. 00:01:16.208 -- 00:01...