Croda ups divi as profits rise

City A.M. Reporter
CHEMICALS firm Croda reported a six per cent increase in first-half profit yesterday as the company sold more higher-margin products and strong demand in North America offset softness in Europe.

The company, which counts Procter & Gamble, Unilever, L’Oreal and Estee Lauder among its customers, said adjusted pre-tax profit rose to £132.6m from £124.8m a year earlier.

Sales rose 2.5 per cent to £572.9m, driven by a six per cent increase at its core consumer care division. The company raised its interim dividend 8.1 per cent to 26.75p per share.