Croda Q3 profit bounces 57%

28th Oct 2010 08:38

Speciality chemicals supplier Croda posted a 57% surge in pre-tax profit boosted by a strong performance at its consumer care business and added that momentum was expected to continue into 2011.Pre-tax profit rose to £47.5m for the quarter to September compared with £30.3m the same time a year before. Sales rose 18.6% to £255.3m while volumes increased 12.1%.In quarter three Consumer Care saw sales rise 15.4% and operating profit increase 32.5%. Margins also improved during the quarter.In Industrial Specialities sales and profits were up 22.1% and 89.4% respectively. All business areas were ahead of 2009 with Crop Care delivering a particularly strong performance, it explained."Croda continues to trade strongly and we expect to report further year on year progress in the final quarter of 2010 and into 2011."