Croda first quarter sales up 7.7% following growth in core business

Croda first quarter sales up 7.7% following growth in core business

Ingredients maker Croda has reported a 2016 first quarter 7.7 percent boost in sales to £306.8million, up from £284.9m in 2015.

The British company has attributed 4.7 percent of group sales to its seed treatment business while underlying sales from its core sectors grew 0.4 percent growth with innovation remaining strong with underlying sales of its NPP (New and Protected Products) up by 8 percent, well ahead of overall sales.

Sales in Asia helped boost these results with underlying sales in the region up 7.2 percent with sales to regional and local consumers performing well. Europe was up 2.7 percent while North America failed to keep up, falling by 1.8 percent.

The personal care sector also reported good results, with reported sales up by 3 percent thanks to a profitable mix of new products and an improved product mix. Underlying sales were 1.1 percent lower due to a tougher comparator in Latin America and lower export-driven sales in North America.

The company witnessed growth from its Sederma skin active business, which was by supported by expansion in sun care ingredients for UV protection across the personal care market and new product launches.

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