Croda boss Flower's stake grows

published 28 July 2011

Croda's chief executive Martin Flower spent more than £56,000 on shares in the speciality chemicals company - only to see the value of the shares fall on the back of its interim results.He took 3,000 shares at 1,892.2p a time and now has nearly 26,000. Shares in the company, which supplies chemicals used in personal care products, paper and printing ink, closed at 1,187p. Croda posted a 30% surge in half year profit, bolstered its dividend and expects to make further progress through the remainder of the year. Consumer Care and Industrial Specialities underpinned the robust profit and sales growth, Croda said. The results were also boosted after it passed on higher costs of raw materials to customers. Pre-tax profit from continuing operations jumped to £124.8m for the six months to 30 June 2011 £95.9m before. Sales for the period rose to £559.6m from £511.9m. Lubricant Additives and Coatings and Polymers also experienced very strong sales growth. Flower said, "The second half of the year has started well and we expect to make further progress compared with 2010 through the remainder of the year." The group also announced a new dividend policy with the annual pay-out increasing to between 40% and 50% of earnings.Top Director BuysCroda International (CRDA) Director name: Mr Martin FlowerAmount purchased: 3,000 @ 1,892.19p Value: £56,766Informa (INF) Director name: Mr Derek MappAmount purchased: 9,469 @ 410.00p Value: £38,823Dixons Retail (DXNS) Director name: Mr Dharmish MistryAmount purchased: 173,626 @ 14.40p Value: £25,002Cranswick (CWK) Director name: Mr Mark BottomleyAmount purchased: 3,500 @ 642.00p Value: £22,470Montanaro European Smaller Companies Trust (MTE) Director name: Mr Alex Hammond-ChambersAmount purchased: 4,500 @ 456.75p Value: £20,554Home Retail Group (HOME) Director name: Mr John CoombeAmount purchased: 10,000 @ 133.36p Value: £13,336Mediwatch (MDW) Director name: Mr Omer M A KarimAmount purchased: 400,000 @ 2.50p Value: £10,000Mediwatch (MDW) Director name: Mr Philip G StimpsonAmount purchased: 400,000 @ 2.50p Value: £10,000Mediwatch (MDW) Director name: Mr Colm Tomas CroskeryAmount purchased: 400,000 @ 2.50p Value: £10,000Top Director SellsIomart Group (IOM) Director name: Mr Sarah HaranAmount sold: 100,000 @ 116.00p Value: £116,000RPS Group (RPS) Director name: Mr Peter DowenAmount sold: 47,551 @ 236.50p Value: £112,458Iomart Group (IOM) Director name: Mr Fred SheddenAmount sold: 100,000 @ 112.00p Value: £112,000