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Croda Share Discussion Threads
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|Nice bump up again yesterday on further consideration of results.|
|Saw the results first thing this morning and got some for 33.43, so really pleased with progress today. It is a long term hold. My Mum has held these for decades and it is a quality company. I don't know if fundsmith hold but it looks like one of their type of shares, good margin, high ROCE and manageable debt.
|Under the radar for most it seems.
Been in and out a couple of times taking a nice profit on each.
IMO this could have further to go with a confident outlook like that - so its a hold for me.|
|- Croda International posts record profits for the year to the end of December driven by 'relentless innovation'.
Sales increased by 15.0% to £1,243.6m (2015: £1,081.7m).
This included an 11.9% benefit from currency translation due to weaker sterling.
Sales in constant currency increased by 3.1%, with acquisitions contributing 4.7%.
Adjusted profit before tax increased by 13.2% to £288.3m (2015: £254.7m). This was 4.8% higher in constant currency. Profit before tax on an IFRS basis was also up strongly at £275.7m (2015: £252.3m). Return on sales increased by 40 basis points in constant currency, reflecting a richer product mix of 'high end' products and innovation.
Reported return on sales was slightly lower at 24.0% (2015: 24.4%), due to the dilution impact of the Incotec acquisition and lower profit from the API contract in North America.
Adjusted EPS rose 15.4% to 155.8p (2015: 135.0p) and the proposed final dividend has been increased by 8.6% to 41.25p (2015: 38.0p).
Chief executive Steve Footssaid: "Croda has delivered a record profit in 2016.
"We have grown sales through selective acquisitions and organic growth in premium market niches, driving bottom line performance through high value products and relentless innovation.
"Our innovation pipeline is exciting, with sales of New and Protected Products increasing for the fourth consecutive year.
"We continue to expand in higher growth markets, with Asia the stand out performer, and we are growing with regional and smaller customers.
"Our priorities for 2017 are to drive profitability through a greater focus on premium, faster growth niches; improve performance in less differentiated markets; and continue to grow margins in Performance Technologies and Incotec.
"We have seen some encouraging signs of improving sales trends, which have continued into 2017.
"We are supporting this through innovation and investment. Croda is a strongly cash generative business with substantial balance sheet capacity.
"We will remain disciplined in both our capital allocation and in driving returns for shareholders.
"We are confident of delivering continued progress in our performance in 2017."|
|POLY just beat CRDA to the FTSE 100 last month but will be promoted on 5 Oct when SAB leave. Therefore expect a large trade at close tomorrow when funds adjust their holdings.|
|TP lifted to 3600p by Deutsche.|
|Strength again today.
Can't see any Broker upgrade.|
|Possible FTSE100 promotion when ARM leave next week.|
|Doing very well again today.
FX translation and positive broker comment.|
|The Share Consolidation is due to take effect upon admission of the New Ordinary Shares of 10.357143 pence each in the capital of the Company to the premium segment of the Official List and to trading on the London Stock Exchange's main market, expected to be at 8.00am on Monday 9 May 2016. As a result of the Share Consolidation shareholders will hold 28 New Ordinary Shares of 10.357143 pence each for every 29 Existing Ordinary Shares of 10 pence each held at 5.00pm on Friday 6 May. Accordingly, application has been made to the UK Listing Authority ("UKLA") to amend the Official List and to the London Stock Exchange to amend the trading line whereby 135,124,108 ordinary shares of 10.357143 pence each will commence trading at 8.00am on 9 May. The New Ordinary Shares will have an ISIN of GB00BYZWX769 and a SEDOL of BYZWX76.
The Special Dividend of 100 pence per existing Ordinary Share, which was announced on 23 February 2016 and was conditional upon the Share Consolidation being approved, will be paid on 2 June 2016 to shareholders on the register at 5.00pm on 6 May 2016 (with an ex-entitlement date of 9 May 2016|
|Croda International reported a rise in first-quarter sales and reaffirmed its outlook for the full year amid continued growth in the group's core businesses.
The FTSE 250 company, which manufactures speciality chemical ingredients, said sales rose 7.7% in the first quarter to the end of March to £306.8m, with seed treatment business Incotec adding 4.7% to group sales in its first quarter since acquisition.
At the same time, favourable currency translation lifted reported sales by 3.9%, reflecting the impact of the stronger euro and US dollar.
In the core business, Asia saw strong growth, with underlying sales up 7.2%.
Europe also continued to deliver steady growth, with underlying sales 2.7% higher, but underlying sales in North America fell 1.8%.
Croda said export customers have been impacted by the strong dollar and it has seen US customers relocate manufacturing overseas.
Volume in Latin America remained weak due to difficult macroeconomic conditions, and sales, whilst up strongly in local currency, were 11.5% weaker on an underlying basis.
The company also said profit growth in the first quarter was in line with its expectations and operating margin rose 60 basis points thanks to a good performance in consumer markets, successful innovation reflected in new and protected products growth in all sectors, growth with regional and local customers, and improved mix within the product portfolio.|
|Croda track record says it all.....excellent ! & more to come with the exchange rate favourable for the Export side.|
|blackrock adding- should i|
|JP Morgan Cazenove Croda International PLC 15/01/2016
2,800.00 3,200.00 2,867.00
|Not today it isn't.
Goldman move it to a Conviction buy!!
- Goldman Sachs has given Croda a 'buy' rating and taken a 'neutral' stance on Victrex as it began coverage on 16 companies in the European chemicals sector.
Goldman expressed an initial preference for 'downstream' chemicals companies and their more stable margins and return rather than more cyclical 'upstream' producers.
Croda was one of the stocks added to the investment bank's conviction-buy list, on the expectation of renewed earnings momentum from improvements in the personal care segment, the Yorkshire-headquartered group's biggest earnings contributor, along with tailwinds from raw materials prices and strong pricing power.
After two challenging years of slowing growth and forex headwinds, GS confidently set a price target offering more than 20% upside at 3,400p, as it predicts consensus earnings upgrades as the FX effects fade and sustained margin improvements are reaped from the new bio-surfactant site at Atlas Point, Delaware.
"As industrial capex slows, we expect consumer companies to emerge as relative winners. Croda is ideally positioned to benefit from this theme," Goldman said.
Analysts predict consumer momentum will likely outpace resource-linked industrial growth in both developed and emerging markets, which also increases Croda's strategic appeal.|
|Going sideways like a lot of stocks.|
Croda sees continued sales growth|
|Still benefitting from those better than expected results and positive outlook.|
|Deutsche Bank Croda International PLC 22/07/2015
3,300.00 3,300.00 2,951.00
|Charles Stanley upgraded Croda to 'hold' from 'reduce' in light of the company's improved performance and the likelihood of a capital return to shareholders, following its first-half results earlier on Tuesday.
The brokerage said the figures were better than expected and a 4% beat at the earnings per share level.
It said Croda delivered good growth, with a solid performance in Healthcare in the first quarter continuing into the second quarter, with better-than-expected sales of pharmaceutical grade Omega-3 as a result of pipeline filling in pharmacies combined with good market penetration, and an improved performance in Crop Care.
Charles Stanley added that the group has also seen margin improvement as sales of its New and Protected Products gain better traction.
"Net debt/EBITDA is a modest 0.6x and a review of the group's capital structure is likely to result in additional returns being made to shareholders|
|Croda International said the first half of the year has been encouraging, with the recovery in underlying sales trends that began in the second half of 2014 continuing, as it posted a 7.3% jump in pre-tax profit.
For the six months ended 30 June, adjusted pre-tax profit came in at £135.7m from £125.3m last year. Sales were up 5.2% at £564.6m from £537.4m, reflecting growth in all sectors and all regions, particularly the Life Sciences division.
Operating margin remained strong at 24.6%, unchanged from last year, while net debt stood at £179.2m from £180.2m.
The speciality chemical ingredients company posted a dividend per share of 31p, up 5.1% from 29.5p in 2014 and said the progress made in the first half was underpinned by its continued focus on innovation and record sales of New and Protected Products.
Chairman Martin Flower said: "We expect to continue to deliver growth through the second half of the year, albeit against a stronger comparator period. Whilst conditions remain uncertain in Europe, we are encouraged by recent growth. Overall, we remain on track to deliver our expectations for the full year and to generate strong returns for shareholders|
|free stock charts from uk.advfn.com
VERY quiet here !
Two gaps to fill in due course......maybe .|