Currencies took the gloss off trading at Croda International PLC (LON:CRDA) in the latest three months.
Foreign exchange movements have been important for the chemicals group and constant currency growth of 2.6% to March became a 2.7% decline after the forex adjustment.
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The group’s cosmetics business was the best performer, in what is the group’s first quarter, with sales rising 7.6%.
Life sciences rose by 4.1% while performance technologies were flat.
Industrial chemicals, now deemed a non-core operation, was the weakest performer with a 10.2% sales decline.
Steve Foots, chief executive, said it was an encouraging start to 2018, with momentum in the consumer businesses and continued progress towards profitability in performance technologies.
“We are on track to deliver our expectations for the year."
Shares dropped 4% to 4,433p.