Chemicals firm Croda International has reported a better-than-expected full-year pretax profit, boosted by higher sales to health and personal care product makers.
The FTSE 250 company, which supplies chemicals used in cosmetics and pharmaceuticals, raised its final dividend by 20% to 30.25p, taking the total dividend to 55p.
"Trading in January was encouraging and this positive trend has continued," the company said in a statement, adding that exposure to the growing economies of Asia and Latin America gave it confidence in its future prospects.
January-December pretax profit rose to £242.4 million beating analyst estimates of £236.3 million, according to a Thomson Reuters poll.
Revenue for the year rose nearly 7% to £1.06 billion.
The company said it completed the sale of its 60% holding in Korean joint venture, Croda Woobang, last month, for a consideration of £2.2 million.
Croda shares closed at 2031p yesterday, valuing the business at £2.74 billion.
