Croda International PLC
11 November 1999
Croda International Plc
Third Quarter Trading Statement
Chairman, Keith Hopkins commenting on trading in the third
quarter of 1999 said:
'A strong third quarter continued the trend of improving
results this year. Profit before tax in the third quarter
was 47% above that achieved in the same period last year.
Sales in the third quarter from continuing operations were
6.5% higher than last year with Oleochemicals showing a 9.7%
increase while Industrial Chemicals sales were flat.
Sales in the Americas were again well ahead of last year
aided by the successful launch of a number of new products.
We have also seen very strong growth in our sales in both
Japan and S E Asia. In Singapore the first phase of our
major oleochemical expansion started up smoothly and the
second phase of commissioning is now underway. This
expansion will significantly increase our capacity for
oleochemicals derivatives and penetration in Far East
markets and lead to a reduction in our unit costs. In
continental Europe overall, sales grew more slowly though
good gains were made in Germany, Spain and Scandinavia.
Sales in the UK continue to be weak, particularly in the
Industrial sector.
Prices of our vegetable oil raw materials remain subdued and
the current outlook suggests that the good level of demand
we saw in the third quarter should continue in the final
quarter of this millennium.'
For further information please contact:-
Telephone:
Mike Humphrey, Chief Executive 0385 307786
Barbara Richmond, Group Finance Director 0467 252627
Charles Watson, Financial Dynamics 0207 831 3113
Tom Baldock, Financial Dynamics 0207 831 3113
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