First half sales grew by 4.6% organically to £881mn. Consumer care led the way with growth of 8.3% while the group’s smallest division, Industrial Specialities saw a 1.9% decline. Sales trends improved across all divisions in the latter part of the period.
On an organic basis, adjusted operating profit was up by 6.7% to £156mn benefitting from improved pricing and sales mix as well cost savings.
Free cash flow increased by £10mn to £38mn and net debt fell by 0.4% to £578mn. The interim dividend was held at 48p per share.
Full-year organic sales growth guidance remains at 3-6%.
The shares were flat in early trading.
Our view
HL view to follow.
Croda International key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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