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    HL.   GB00B1VZ0M25

HARGREAVES LANSDOWN PLC

(HL.)
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Delayed London Stock Exchange  -  05/18 11:35:24 am EDT
889.20 GBX   -1.48%
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Croda International dips on sale of its bio-based business but still rides high for 2021

12/22/2021 | 12:41pm EDT

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown:

''Croda International's share price has dipped on the news that it's selling its bio-based industrial business to US firm Cargill Velocity Holdings for £778m. Given the review of this part of the business, a sale had been on the cards, so rather than the strategic direction of the Yorkshire based company, it may have been the price tag which disappointed some investors, with expectations that it could have clinched an even higher price tag.

The 1.2% fall in early trading is a minor dent in a spectacular performance for Croda over 2021. It's one of the FTSE 100 biggest risers, climbing 48% over the year, riding high on a surge of success. It reported some cracking record results for the first half in the summer and said annual profit would be well ahead of expectations. Broker upgrades on the stock also sent the share price soaring. The extent to which Croda is benefiting from the ongoing vaccine boom has become clear over recent months and it's down to its investment in innovative technologies. It supplies lipid nanoparticles for Pfizer's mRNA technology and given the demand for booster jabs, that area of Life Sciences is bounding ahead. Although revenues from Pfizer may wane, there is expectation that there will be growing customer demand for a broader range of use of its products in medical treatments like oncology. Recovery in consumer markets has also helped its personal care sector which focuses on ingredients for skin, hair, and cosmetic products and the focus on sustainability should help drive sales among an increasingly eco-conscious customer base.''

NOTES FOR EDITORS

Media Contact:

Susannah Streeter

Senior Investment and Markets Analyst, Hargreaves Lansdown

susannah.streeter@hl.co.uk

07527 384747

@StreeterNews

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
CRODA INTERNATIONAL PLC -4.76% 6524 Delayed Quote.-35.53%
HARGREAVES LANSDOWN PLC -1.48% 889.2 Delayed Quote.-34.38%
PFIZER, INC. -1.83% 50.4 Delayed Quote.-14.65%
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Financials
Sales 2022 587 M 732 M 732 M
Net income 2022 212 M 264 M 264 M
Net cash 2022 411 M 513 M 513 M
P/E ratio 2022 19,9x
Yield 2022 4,40%
Capitalization 4 277 M 5 333 M 5 333 M
EV / Sales 2022 6,59x
EV / Sales 2023 6,08x
Nbr of Employees 1 939
Free-Float 71,6%
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 902,60 GBX
Average target price 1 204,28 GBX
Spread / Average Target 33,4%
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Managers and Directors
Christopher Frederick Hill Chief Executive Officer & Executive Director
Amy Stirling Chief Financial Officer & Executive Director
Deanna Watson Oppenheimer Non-Executive Chairman
Mark William Dampier Head-Investment Research
Robert Byett Head-Compliance
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