LONDON (dpa-AFX) - Croda International Plc (CRDA.L), chemicals and consumer goods maker, said on Monday that it now expects adjusted profit before tax to be between 300 million pounds and 320 million pounds for the full year compared to the previous guidance of 370 million to 400 million pounds.
As per the company, customers have continued to reduce their ingredient inventories in consumer care, crop, and industrial end markets, leading to a weaker demand environment and depressed sales volume.
With no indication of a rebound the company was forced to cut its guidance for the full year.
On Friday, Croda shares closed at 4795 pence, up 1.29% on the London Stock Exchange.
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