UPDATE 2-Croda H1 profit doubles, sees more progress in H2
* Sees FY market view rising on the back of H1 results - FD
* Says strong trading continued into H2
* Raises interim dividend by 50 pct to 9.75p
* Shares touch new 52-week high (Recasts; adds FD, analyst comments)
By Aditi Samajpati
BANGALORE, July 27 (Reuters) - British chemicals firm Croda (CRDA.L) more than doubled its first-half pretax profit, aided by growth in its personal-care ingredients business, and said it expected to boost profits through the rest of the year.
Shares of the company rose as much as 7 percent to touch a new 52-week high of 1,255 pence on Tuesday.
Croda, whose key customers include Estee Lauder (EL.N), L'Oreal (OREP.PA) and Syngenta (SYNN.VX), said strong trading across the board continued into the second half, and increased its interim dividend by 50 percent to 9.75 pence.
"Around the world, markets have just started to pick up," Finance Director Sean Christie told Reuters.
"We are making sure we are in the right markets -- consumer care, cosmetics, healthcare and industrials," Christie said.
He expected market estimates for the full year to rise on the back of Croda's first-half results.
Analysts on average currently expect the company to report a full-year pretax profit of 149.9 million pounds ($232.1 million) on revenue of 951.2 million pounds, according to Thomson Reuters I/B/E/S.
"The company now looks set to continue on a strong earnings growth path," Citigroup analyst Sophie Jourdier wrote in a note to clients, keeping her "buy" rating on the stock.
While Croda kept the margin target for its consumer care segment at 20 percent, it raised the target for its industrial specialties segment to 15 percent from 10 percent.
For the six months to end-June, pretax profit was 96.2 million pounds ($149 million) from continuing operations, compared with 46.3 million pounds a year ago.
Revenue rose 27.6 percent to 516.1 million pounds.
At least five analysts covering the stock said the results were above their estimates.
Croda also reduced its net debt by 18.8 million pounds to 269.7 million pounds at the end of the period. ($1=.6458 Pound) (Reporting by Aditi Samajpati in Bangalore; Editing by Vinu Pilakkott)
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