By
Reuters
Published
Feb 23, 2010
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Croda full-year in line; confident on 2010

By
Reuters
Published
Feb 23, 2010

LONDON, Feb 23 (Reuters) - British chemicals group Croda International (CRDA.L) met expectations with a 10.5 percent rise in adjusted profit for 2009, reflecting robust demand from the consumer care sector, and giving it confidence for 2010.



The company, which makes ingredients for cosmetics and personal care products and chemicals for industrial markets, posted adjusted pretax profit of 106.4 million pounds ($164.5 million) on sales up 0.6 percent at 916.2 million pounds.

Pretax profit, including exceptional items relating to the closure of its Wilton plant in north-east England, fell 7.4 percent to 89.2 million pounds.

Earnings per share rose 10.4 percent to 53.0 pence, just ahead of market expectations, and the group raised its dividend by 8.9 percent to 21.5 pence.

"The encouraging trading performance seen during the second half has continued into 2010 and we are confident of achieving significant progress in the current year," the company said in a statement on Tuesday 23 February.

Analysts expected Croda to report adjusted pretax profit of 104.0 million pounds and adjusted earnings per share of 50.15 pence, according to a Thomson Reuters I/B/E/S poll of 11 brokers.

(Reporting by Paul Sandle)

($1=.6469 Pound)

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