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UK chemical maker Croda warns on full-year profit
July 22, 2014 / 6:21 AM / 3 years ago

UK chemical maker Croda warns on full-year profit

July 22 (Reuters) - Specialty chemicals maker Croda International Plc, feeling the effects of a strong British pound, warned that this year’s full-year pretax profit would be lower than last year‘s.

The company, which makes chemicals used in cosmetics, pesticides and detergents, said it expected to achieve “progress” in its underlying profit.

Croda’s adjusted pretax profit fell 6 percent to 125.3 million pounds ($214 million) in the first half ended June 30 from 133.2 million pounds a year earlier.

Revenue fell 4.5 percent to 537.4 million pounds.

Analysts on average had expected a pretax profit of 125.2 million pounds on revenue of 540.8 million pounds, according to Thomson Reuters I/B/E/S.

Croda reported a pretax profit of 250.1 million pounds in 2013. ($1 = 0.5855 British pounds) (Reporting by Karen Rebelo in Bangalore; Editing by Ted Kerr)

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