Strong Cash Flow and Dividend Increase
Despite lower earnings, Croda increased its dividend by 1p to 110p per share, reflecting confidence in future earnings growth and maintaining strong cash performance with a free cash flow of £181 million, up over 9%.
Consumer Care and Industrial Specialties Growth
Consumer Care sales grew by 7% at constant currency, with a notable 11% increase in sales volumes. Industrial Specialties sales were up by 2% in constant currency, with a 9% volume growth.
Focus on Local and Regional Customers
Sales to local and regional customers in Consumer Care were up by 11%, with a strategic focus on increasing innovation capabilities and leveraging local footprints in fast-growing countries.
Volume Recovery in Crop Protection
Crop Protection saw a 6% growth in the second half of the year, indicating a volume recovery and increased demand.
Strategic Investments in Pharma and Asia
Croda expects to benefit from investments in the pharma sector, with a focus on mRNA drug development and expansion in fast-growing Asian markets.