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Google chemicals company enjoys 'exceptional year' - 19/02/08
A Goole-based natural chemicals company has unveiled its profit results for the last 12 months, saying it has had an "exceptional year".
Croda, which supplies some of the world's best-known skincare and cosmetics companies, revealed that it trebled its profits after it acquired rival firm Uniqema.
Its sales increased to £886.1 million from £480.1 million during 2007 and it enjoyed pre-tax profits of £60.9 million in the 12 months leading up to December 31st.
Chairman Martin Flower said: "Our ability to produce consistent earnings and margin growth underlines the strength of our core business and confirms our leadership position in the market.
"Record results have been achieved despite a strong currency headwind and a further rise in raw material costs."
The east Yorkshire firm supplies raw ingredients to well-known brands such as L'Oreal, Chanel, Clarins, Estee Lauder and Procter and Gamble.
Its purchase of Uniqema for £410 million in 2006 made it one of the world's biggest oleochemicals company,
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