1st Nov 2007 07:01
Croda International PLC01 November 2007 1 November 2007 Croda International Plc Third Quarter Trading Statement Commenting on the results for the nine months to 30 September 2007, MartinFlower, Chairman said: "Mix improvements and price increases resulted in underlying1 sales up 2% on aconstant currency basis despite continuing to shed low margin business followingthe acquisition of Uniqema in September 2006. Adverse currency movements leftunderlying1 sales down 3%. Our unaudited management accounts show continuing pre-tax profit up 20% afterexcluding £5.7m operating profit (2006: £1.1m) from the discontinued businesses(Croda Food Services, Refrigeration Lubricants and our Malaysian operations inKlang). Net debt at the end of the quarter was £415m and does not include the proceedsfrom the £62m sale of the Refrigeration Lubricants business which will completetoday. Many raw material prices are at all time highs but selling price increases havebeen and will continue to be implemented. Our restructuring and re-positioningstrategies are on track, delivering the expected contribution to Group results." Croda International Plc will be announcing its preliminary results for 2007 on19 February 2008. 1 Underlying sales include pro-forma Uniqema revenues for 2006, but exclude discontinued businesses. For further information please contact: Mike Humphrey, Group Chief Executive 01405 860551Sean Christie, Group Finance Director 01405 860551Charlie Armitstead, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Croda International