Croda International Plc Interim results for the six months to 30 June 2012
ROBUST Q2 AND RECORD INTERIM RESULTS
|
H1 Highlights |
H1 2012 | H1 2011 | % Change |
| Sales | £572.9m | £559.6m | +2.4 |
| - Consumer Care | £310.5m | £293.6m | +5.8 |
| - Performance Technologies | £212.5m | £208.6m | +1.9 |
| - Industrial Chemicals | £49.9m | £57.4m | -13.1 |
| Operating profit | £133.7m | £125.3m | +6.7 |
| - Consumer Care | £96.7m | £88.0m | +9.9 |
| - Performance Technologies | £33.4m | £31.6m | +5.7 |
| - Industrial Chemicals | £3.6m | £5.7m | -36.8 |
| Profit before tax - continuing operations | £132.6m | £124.8m | +6.3 |
| EPS - continuing operations | 66.9p | 61.9p | +8.1 |
| Dividend per share | 26.75p | 24.75p | +8.1 |
- Strong demand in America offsets softer European trading conditions and currency headwinds
- Innovative, higher margin products driving increasing return on sales
- Improved performance across all areas of Consumer Care with return on sales increasing to 31.1%
- Growth in new, more differentiated products in Performance Technologies helped return on sales grow to 15.7%
- Net debt reduced to £208.0m (June 2011: £253.3m) as a result of strong free cash flow generation
- Acquisition in July of IRB, the global leader in plant cell culture biotechnology, for €7.5m
- Part of our strategy to acquire leading edge technologies in core markets
