Croda’s first quarter sales grew by 1% to $431mn before currency movements. Consumer Care grew 4%, more than offsetting declines in other divisions, all of which were up against strong comparisons.
The group sees no material effect so far from the conflict in the Middle East and is increasing prices to fully recover input cost inflation.
Despite the increased uncertainty, full-year guidance for organic sales growth of 3-6% is unchanged.
The shares were up 1.6% in early trading.
Our view
HL view to follow.
Croda 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.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.