Speciality chemicals company Croda International plc (LON:CRDA) reported an increase in first half profit, driven by sales growth in its core businesses.
Adjusted profit before tax increase 4.4% at constant exchange rates to £169.7mln in the three months to 30 June, with sales up 3.8% to £707.3mln.
Croda said sales were boosted by 4.4% organic growth in its core business, including the personal care, life sciences and performance technologies divisions.
READ: Croda reports improved first-quarter sales growth boosted by sterling weakness
“This was underpinned by growth in premium market niches, continued organic investment and our relentless focus on innovation,” said chief executive Steve Foots.
Growth in the core businesses offset a 1.1% dip in sales in the non-core industrial chemicals arm.
The interim dividend was lifted 6.9% to 35.0p and Croda left its full year guidance unchanged.
"Our priorities for 2017 remain unchanged: to drive profitability through premium, faster growth niches; improve performance in less differentiated markets; and continue to grow margins in Life Sciences and Performance Technologies,” Foots said.
“We are confident of delivering continued progress through the remainder of 2017."