The Croda International (LON: CRDA) share price has risen by more than 8% on Wednesday after the chemicals group reported an 8% rise in first-quarter sales and confirmed it was on track to meet full-year expectations.
The speciality chemicals firm said Q1 sales came in at £442 million, up 8% versus the prior year and up 9% at constant currency.
The increase was driven by improved volumes, with the price/mix headwinds the company saw in 2024 starting to diminish.
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Croda noted improved demand across all three of its business sectors—Consumer Care, Life Sciences and Industrial Specialties.
Consumer Care sales rose 8%, driven by higher sales volumes and continued strong demand from local customers, while Life Sciences increased by 10%, or by 11% at constant currency, with Crop Protection and Seed Enhancement delivering strong sales growth.
Reported sales in Industrial Specialties grew by 6%, or by 7% at constant currency, driven by higher sales volumes.
“With higher sales volumes in the first quarter, asset utilisation at our 11 shared manufacturing sites has continued to improve,” the company stated. “We have continued to successfully implement our plan to realise £25m of cost savings this year whilst identifying further opportunities to deliver operational efficiencies as part of our multi-year programme.“
Croda added that its adjusted profit before tax in the first quarter was in line with its expectations.
Management reaffirmed its guidance for 2025. While recognising the uncertain political and economic environment, the company highlighted its “encouraging start to the year”.
Croda continues to expect to deliver £265 million to £295 million in full-year 2025 adjusted profit before tax at constant currency.
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