Speciality chemicals firm Croda International PLC (LON:CRDA) remains on track to hit market expectations this year after “another strong, consistent quarter of growth”.
The FTSE 100 group, which makes chemicals used in cosmetic creams and dietary supplements, reported growth in all of its core divisions.
Croda’s life sciences business was the standout performer, posting a 7.5% rise in sales in the three months ended September 30.
READ: Croda reports rise in half-year profits
Core group sales rose 4.2% in the quarter, although that excludes the industrial chemicals division which Croda is reducing in size to become more “innovation orientated”. Including that division, group sales rose 2.9%.
“This has been another strong, consistent quarter of growth for Croda,” said chief executive Steve Foots.
“It is encouraging to see ongoing momentum in our consumer businesses, underpinned by innovation and our unique customer intimacy, supported by our 'value over volume' progress in Performance Technologies.
He added: “We are delivering our strategy of 'Growing the Core', driving top-line growth at industry leading margins to achieve superior returns, and 'Stretching the Growth', accelerating delivery across our markets. We are on track to deliver our expectations for the year.”
Croda shares were broadly flat at 4,818p in early deals on Thursday.