Croda profits rise in first half

Suzie Neuwirth
FTSE 100-listed chemicals firm Croda International yesterday posted a 6.3 per cent increase in pre-tax profits in its half-year results, up to £133.1m.

Sales in the company’s key consumer care division edged up by 2.3 per cent but performance technologies sales fell by 0.7 per cent, impacted by continued weakness in the European automotive sector.

“We do not expect market conditions in Europe to improve in the near term, nor do we expect a repeat of the reduction in market demand seen in the second half of 2012,” said chairman Martin Flower.