April 23, 2020 / 6:43 AM / a month ago

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

April 23 (Reuters) - Croda International PLC:

* 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: Further company coverage:

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