31st Oct 2013 07:44
LONDON (Alliance News) - Croda International PLC. (CRDA.L), Thursday in its interim management statement said third-quarter turnover was up 4.4% to 267.9 million pounds, from 256.5 million pounds last year. Excluding acquisitions, disposals and currency, underlying sales rose 0.8%. The company said that for the three-month period, pre-tax profit increased 5.4% to 58.6 million pounds, from prior year's 55.6 million pounds last year.
Operating margins stood at 23.1%, despite slight dilution due to the acquisition of Sichuan Sipo Chemical Co, with continuing operating profit up 4% to 62 million pounds.
Looking forward, Martin Flower, Chairman of Croda said: "We continue to benefit from the strong demand for innovation and remain particularly encouraged by the progress that Croda is making in Asia and South America. However, with currencies continuing to weaken and market conditions expected to remain subdued, fourth quarter profits are likely to be similar to quarter three."
Copyright RTT News/dpa-AFX
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