Profits surge at Croda
mardi, 17 février 2009
East Yorkshire-based chemicals company Croda has posted strong trading results for 2008, with profits up by 61.8 per cent.
Pre-tax profits up to December 2008 rose to £98.4 million from £60.8 million in 2007 and the company's turnover increased 18.8 per cent to £956.4 million.
Of all Croda's various divisions, the customer care section in particular held up well, with products such as anti-aging treatments proving popular.
The upturn in profits comes in spite of the effects of the rising raw materials costs endured by the firm.
Croda chaiman Martin Flower says the group has kicked off 2009 with "expectations".
"The broad trading trends of resilient consumer care demand, weaker industrial markets and favourable currency translation are continuing.
"We are confident of making further progress in the year ahead," Mr Flower comments.
Croda produces specialist chemicals for use by customers in heath and beauty products and also for industrial clients.
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