Q3 Trading Statement - Pre-tax Profit Up 47%

Croda International PLC 11 November 1999 Croda International Plc Third Quarter Trading Statement Chairman, Keith Hopkins commenting on trading in the third quarter of 1999 said: 'A strong third quarter continued the trend of improving results this year. Profit before tax in the third quarter was 47% above that achieved in the same period last year. Sales in the third quarter from continuing operations were 6.5% higher than last year with Oleochemicals showing a 9.7% increase while Industrial Chemicals sales were flat. Sales in the Americas were again well ahead of last year aided by the successful launch of a number of new products. We have also seen very strong growth in our sales in both Japan and S E Asia. In Singapore the first phase of our major oleochemical expansion started up smoothly and the second phase of commissioning is now underway. This expansion will significantly increase our capacity for oleochemicals derivatives and penetration in Far East markets and lead to a reduction in our unit costs. In continental Europe overall, sales grew more slowly though good gains were made in Germany, Spain and Scandinavia. Sales in the UK continue to be weak, particularly in the Industrial sector. Prices of our vegetable oil raw materials remain subdued and the current outlook suggests that the good level of demand we saw in the third quarter should continue in the final quarter of this millennium.' For further information please contact:- Telephone: Mike Humphrey, Chief Executive 0385 307786 Barbara Richmond, Group Finance Director 0467 252627 Charles Watson, Financial Dynamics 0207 831 3113 Tom Baldock, Financial Dynamics 0207 831 3113
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