Croda Intl Q3 sales up 2.9% as forex headwinds moderate

Specialty chemicals maker Croda International said third quarter sales rose 2.9% as currency headwinds moderated.

The year-to-date profit margin continued slightly above the prior year, reflecting improved product mix and pricing, growing value ahead of volume, Croda said.

Constant currency sales for the quarter were up 3.4%, with the core business up 4.5%, driven by a strong performance in the consumer businesses.

Personal care sales rose 4.9% in the third quarter and 7.8% in the year to date, reflecting both price/mix and volume improvements, Croda said.

In life sciences, constant currency sales for the quarter increased 8.5%, or 9.3% excluding the impact of the North American API contract which the company exited at the end of 2017.

In performance technologies, constant currency sales grew by 1.8% in the third quarter and by 1.7% in the year to date.

Chief executive Steve Foots said the company was on track to deliver expectations for the year.