Daily Management Review

Earnings of UK’s Croda International Plc hit by U.S.-China trade war


07/26/2019


According to its earnings report for the last 6 months which ended on June 30, its revenues have also been impacted by new legislation introduced by China.



On Wednesday, Croda International Plc, a speciality chemicals maker, stated its personal care unit has been significantly hit by the U.S.-China trade war as well as by new legislation introduced by China.
 
Croda, which counts Procter & Gamble Co, Unilever Plc and L’Oreal SA as its customers, reported a 2.7% fall in pretax profit to 166.2 million pounds for the 6 months ended June 30. Its earnings have been hit by previous investments, higher interest rates and a special dividend.
 
96% of Croda’s revenues as well as 80% of its production are outside of the UK.
 
In a statement, Croda said, it expects the performance of its personal care unit to recover gradually in Asia and remain subdued in the United States.
 
Ref.
reuter.com







Science & Technology

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

World Politics

World & Politics

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange

IMF allocates Ecuador $ 500 mln more to support reforms

French pension reform chief to resign

Poland refuses to join EU 2050 climate deal