Croda reports rise on anti-ageingmarket – 24 July 2006

London: Rising demand for anti-wrinkling cream helped Croda, the speciality chemical company, to boost half-year profits by 11 per cent.

Mike Humphrey, chief executive, said demand continued to be underpinned by “the desire to be beautiful in today’s society” – the group produces ingredients for anti-ageing products of Estee Lauder and Unilever.

Croda said that sales in its core consumer care division had risen by 8.2 per cent in the six months to June 30.

Pre-tax profits for the half-year were Pounds 27.9m (Pounds 25.1m) as turnover rose by 6.5 per cent to Pounds 164.5m. Earnings per share were up 18 per cent to 15.4p. The interim dividend was 4.65p (4.35p).

Croda shares are still suspended following the Uniqema deal, which is technically a reverse takeover. Lisa Urquhart