Croda Share Discussion Threads

[broadwood] 06/3/2014 07:59

N+1 Singer Croda International PLC 06/03/2014
Reiterates
Buy Buy 0 2,700.00 2,750.00 2,511.00 50 2

[broadwood] 26/2/2014 08:17

Plenty of recs about after the results - but GS continues to like.

Goldman Sachs Croda International PLC 26/02/2014
Retains
Buy Buy 0 3,030.00 3,030.00 2,538.00 0 2

[broadwood] 25/2/2014 15:09

Solid numbers. Not much you can do about currency.

Credit Suisse maintained its outperform rating on natural chemicals company Croda after its better-than-expected fourth quarter numbers, though it remains concerned about the impact of currency headwinds on the group over 2014.

The broker notes that Croda is guiding the market to an adverse currency impact of £9m for a proforma 2013 using spot FX levels. At the same time, Croda expects to deliver constant currency sales and profit growth in 2014.

Croda, which makes chemicals used in personal care, crop care and home care products, said adjusted pre-tax profit for the year ended December 31st increased 5.4% to £251.4m. Revenue increased 2.4% to £1.077bn.

The group's fourth quarter EBIT of £62.8m was 3% ahead the broker's expectations and 2% ahead of consensus.

Credit Suisse has a 2850p target price for the stock. Croda's shares were ahead 0.3% or 7.5p to 2508.5p at midday, valuing the company at £3.4bn.

[deadly] 25/2/2014 14:26

They look solid to me. Should recover from here.

[broadwood] 24/2/2014 16:19

Results tomorrow.

[broadwood] 22/1/2014 16:56

Upbeat comments from analysts at HSBC gave chemicals stocks a boost in London on Wednesday after they said that the sector will deliver double-digit growth in earnings in 2014.

The bank believes that all regions should contribute to growth, while it sees upside risk to prices and margins.

"The valuation of the sector is not cheap but justifiable in our view as the overall market has re-rated by more," analysts said in a research note.

HSBC raised its rating for Croda International from 'neutral' to 'overweight' and lifted its target price from 2,700p to 2,800p.

Heavyweight Johnson Matthey also saw its target raised from 3,450p to 3,750p, though a 'neutral' recommendation was maintained.

[broadwood] 22/1/2014 08:41

HSBC Croda International PLC 22/01/2014
Upgrades
Neutral Overweight 2 2,700.00 2,800.00 2,424.00 100 2

[pyemckay] 09/11/2013 11:16

trend is now down but an opportunity should present itself soon, given the reduced growth I wouldnt pay above 2000p for it currently, institutions must still be reducing.

[miata] 09/11/2013 08:59

I am looking for a buying opportunity in the coming week.

[phoenix1234] 01/11/2013 16:17

Buy tip

www.shareprophets.advfn.com/views/2275/buy-croda

[pyemckay] 31/10/2013 17:31

yes, eps growth of 35% over last 3 years but not now. take the blinkers off.

past returns are no guide to the future.

[pyemckay] 31/10/2013 16:20

and out of my small holding late in the day.
high pe low growth is not a good combination.

good luck all.

[pyemckay] 31/10/2013 15:37

crda now in danger of losing ftse 100 status.

[pyemckay] 31/10/2013 10:00

mixed bag of results. crda showing decline in certain markets. Compared to trading update from elementis this week I have a larger holding now in elementis.

crda only a hold for me at present.

disappointing, and market agrees.

[con90210] 31/10/2013 08:37

Great buying opportunity here

[broadwood] 31/10/2013 07:51

- Chemical group Croda International said sales trends improved again in Q3 with growth across all regions despite subdued market conditions. Turnover was up 4.4% to £267.9m (2012: £256.5m) with underlying sales up 0.8%. The significant devaluation of the Japanese Yen and Indian Rupee reduced the benefit of currency translation compared to the first half. Innovation led sales were very strong in all segments with double digit growth seen in new and patented products. However, we saw near double digit declines in relatively low margin but high volume commodity and toll manufacturing sales. Operating margins remained solid at 23.1% (2012: 23.2%) despite slight dilution due to the acquisition of Sichuan Sipo Chemical Co ("Sipo"), with continuing operating profit up 4.0% to £62.0m (2012: £59.6m). Group pre-tax profit increased 5.4% to £58.6m (2012: £55.6m) in the quarter. In Consumer Care, sales were up 3.2% to £145.4m (2012: £140.9m) supported by both volume growth and a better quality product mix. Overall trends were mixed. Personal Care sales continued to improve with strong sales in Western Europe and North America, although we saw sales decline again in Eastern Europe, Middle East and Africa. Crop Care made further progress following its return to growth in June, although whilst we saw strong double digit turnover increases in Europe, growth was more modest elsewhere. Health Care sales were also up in the quarter compared to the same period in 2012. Operating profit increased 3.2% to £45.6m (2012: £44.2m). Return on sales in the quarter was 31.4% (2012: 31.4%). In Performance Technologies sales were up 0.4% to £95.0m (2012: £94.7m) with growth in Geotech and Polymer Additives. Home Care and Coatings & Polymers were both down with particularly weak sales in North America. Lubricants saw sales decline in Europe. The Group currency benefit is skewed towards Performance Technologies due to its relatively high exposure to European markets. Operating profit increased 4.5% to £13.9m (2012: £13.3m). Return on sales was 14.6% (2012: 14.0%). Industrial Chemicals continued to see good underlying sales growth which was boosted by the acquisition of Sipo in July 2013. Turnover increased 31.6% to £27.5m (2012: £20.9m). Sipo broke even at the operating profit level which diluted the return on sales in the sector. Operating profit increased 19.0% to £2.5m (2012: £2.1m). Return on sales was 9.1% (2012: 10.0%). Cash generation was very strong in the quarter with net debt falling £8.6m to £213.7m.This was despite a £45.6m increase in borrowings due to the acquisition of 65% of the equity of Sipo in the quarter. Martin Flower, Chairman, said: "Croda has continued to generate a steadily improving underlying sales performance through every quarter of this year despite challenging market conditions. We continue to benefit from the strong demand for innovation and remain particularly encouraged by the progress that Croda is making in Asia and South America. However, with currencies continuing to weaken and market conditions expected to remain subdued, fourth quarter profits are likely to be similar to quarter three. Looking ahead, the Board remains confident that Croda's strategy will continue to deliver progress into 2014 and beyond."

[broadwood] 31/10/2013 07:44

On the money as usual.

Croda has continued to generate a steadily improving underlying sales performance through every quarter of this year despite challenging market conditions. We continue to benefit from the strong demand for innovation and remain particularly encouraged by the progress that Croda is making in Asia and South America. However, with currencies continuing to weaken and market conditions expected to remain subdued, fourth quarter profits are likely to be similar to quarter three. Looking ahead, the Board remains confident that Croda's strategy will continue to deliver progress into 2014 and beyond

[broadwood] 25/10/2013 16:31

Benefitting from ELM's results today.

[miata] 12/10/2013 16:13

Name........... P/E.. Price ..30DayChg
Croda Int ..... 19.1 2,477.00p -6.63%
Elementis ..... 16.1 . 238.70p -7.26%
Johnson Matthey 18.8 2,821.00p -5.24%
Victrex ....... 18.6 1,598.00p -4.31%

09-Oct-13 Bank of America Buy 2,570.00p 2,870.00p 2,870.00p
09-Oct-13 Credit Suisse Outperform 2,570.00p 3,000.00p 3,000.00p
03-Oct-13 Berenberg Bank Buy 2,677.00p 3,100.00p 3,100.00p
02-Oct-13 Deutsche Buy 2,668.00p 2,850.00p 2,850.00p

[broadwood] 12/10/2013 12:52

Just wait until the next IMS.

31 October 2013 Q3 Interim Management Statement

[pyemckay] 12/10/2013 11:59

higher pe than some in the sector but not a huge amount of growth to support this.
would be a buyer if this fell significantly.
not real value at the minute.