Croda International, a chemicals company based in East Yorkshire, has posted a decline in sales and profits for the year ending 31 December 2024. Group sales dropped to £1.63 billion, down from £1.69 billion in 2023, with pre-tax profits falling to £207.8 million, compared to £236.3 million the previous year.
Despite the weaker sales growth, Croda focused on cost reduction and operational efficiency, which helped meet profit expectations. The company highlighted improvements in its Consumer Care division, especially in Fragrances & Flavours, and solid growth in New & Protected Products. However, the absence of COVID-19-related demand for lipids and weak consumer health sales impacted its Life Sciences division. On a positive note, Crop Protection saw stronger performance in the year’s second half.
While the economic climate remains subdued, Croda has seen more stable customer inventories and demand across various markets. The company is ramping up innovation efforts to meet renewed customer interest, particularly after a slowdown in new product development during the pandemic.
