Croda International PLC (LSE:CRDA) dipped 5% on Monday morning after the chemical specialist slashed profit guidance for the full year on depressed sales.
Customers across consumer, crop and industrial markets continued to reduce inventories over the third quarter, weighing into sales, Croda said in a statement.
Performance over the period was weaker than anticipated, the FTSE 100-listed firm added, while no signs have appeared of a significant rebound in the fourth quarter.
Full-year adjusted pre-tax profit guidance was slashed from a range of £370 million to £400 million to between £300 million and £320 million as a result.
Shares fell by 4.7% to 4,568p.