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50GP - Croda International News Story

94p 0.0  0.0%

Sector
Basic Materials
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1819

BRIEF-Croda Says Uncertain How Covid-19 To Affect Future Sales, To Pay Final Dividend

Thu 23rd April, 2020 7:43am
April 23 (Reuters) - Croda International PLC  CRDA.L :
    * COVID-19 UPDATE
    * CURRENTLY, ALL OF OUR 19 PRINCIPAL MANUFACTURING SITES ARE
OPERATING
    * RAW MATERIAL SUPPLY CHAINS ALSO REMAIN BROADLY SECURE,
WITH
LIMITATIONS ON AVAILABILITY OF A SMALL NUMBER OF MATERIALS
    * CURRENTLY HAVE NO PLANS TO FURLOUGH OR REDUCE PAY FOR
EMPLOYEES
    * CORE BUSINESS SALES AND GROUP PROFITABILITY IN Q1 BROADLY
IN
LINE WITH BOARD'S EXPECTATIONS
    * ASIA WAS ADVERSELY IMPACTED BY EARLIER SHUTDOWN IN CHINA
BUT,
ENCOURAGINGLY, NORTH ASIA DELIVERED BROADLY FLAT SALES ACROSS
QUARTER
    * NORTH AMERICA RETURNED TO SALES GROWTH IN QUARTER WHILST
LATIN
AMERICA WAS BELOW A STRONG COMPARATOR
    * VISIBILITY IS LIMITED AND THERE IS UNCERTAINTY AS TO HOW
COVID-19 CRISIS WILL AFFECT FUTURE SALES
    * IMPLEMENTING DISCRETIONARY OPERATING COST SAVINGS AND HAVE
CAPACITY TO ADJUST FURTHER TO MEET CHANGING CIRCUMSTANCES
    * GROUP HAS A STRONG BALANCE SHEET, HAVING COMPLETED ITS
DEBT
REFINANCING IN 2019, WITH NO MATERIAL DEBT MATURITIES FALLING
DUE BEFORE 2023
    * BOARD HAS DECIDED TO PAY FINAL 2019 ORDINARY DIVIDEND OF
50.5
PENCE PER SHARE

Source text for Eikon:  ID:nRSW5696Ka 
Further company coverage:  CRDA.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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