Investing.com -- Shares in Croda (LON:CRDA) International rose more than 9% on Wednesday after the chemicals company posted first-quarter sales ahead of expectations and reaffirmed its full-year outlook.
Croda reported revenue of £442 million for the three months ended March 31, up 8% year over year and 3% above consensus estimates.
Organic sales rose 9%, driven by a 7.2% increase in volumes, while price and mix declined 1.2%.
All three of Croda’s business segments posted growth. Consumer Care revenue reached £255 million, up 8% from a year earlier and 5% ahead of analyst expectations.
Life Sciences delivered £134 million, up 10%, while Industrial Specialties grew 6% to £53 million. The company said profit before tax was in line with expectations.
UBS analysts said the sales beat and steady guidance would likely ease investor concerns. The firm reiterated its forecast for adjusted profit before tax between £265 million and £295 million at constant currency.
UBS projects £298 million, about 6% above consensus.Croda also said it would apply a pricing surcharge to offset the impact of new global trade tariffs.