Currency headwinds hit Croda

FTSE 100-listed chemicals manufacturer Croda International yesterday posted a slight increase in pre-tax profits to £65.2m for the first quarter, up from £65.1m. Revenue rose 2.9 per cent on a constant currency basis, but adverse foreign currency changes meant that reported sales fell 3.2 per cent to £274m. The firm said second-quarter performance is likely to be similar due to ongoing currency headwinds.

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