LONDON (dpa-AFX) - Specialty chemicals company Croda International Plc. (CRDA.L) said Thursday that its core Business sales and Group profitability in the first quarter were broadly in line with its expectations as well as the prior year.
While Asia was adversely impacted by the earlier shutdown in China due to the pandemic, North Asia delivered broadly flat sales across the quarter. North America returned to sales growth in the quarter whilst Latin America was below a strong comparator.
The Group said Europe witnessed some demand weakness in Personal Care and Performance Technologies but saw good growth in Life Sciences.
Croda said as it enters the second quarter, conditions in some markets are more variable than usual, while the value of its customer order book remains solid and in line with normal circumstances. However, the Group foresees uncertainty as to how the COVID-19 crisis will affect future sales.
In addition, the Group said its Board has decided to pay the final 2019 ordinary dividend of 50.5 pence per share, announced in the annual results in February 2020, subject to approval by shareholders at AGM on April 23.
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