Jul 30, 2024 / 08:00AM GMT
David Bishop - Croda International PLC - Investor Relations Director
Good morning, everybody. And welcome to our live Q&A. (Event Instructions) Matthew Yates, Bank of America.
Questions and Answers:
Matthew Yates - Bank of America - AnalystI'd like to ask about the margin in consumer. So you had a nice 14% rebound in volumes, but profits down about 13%, if my math is right. It's essentially -- why the lack of operating leverage in this business with margins still below 18%, obviously needs to be considerably higher in the past. Steve, you talked about gross margins being okay. So I'm guessing the pricing is really just reflecting the savings you've had on the raw mats.
So why are we not seeing that the volume growth translated to higher margins? Is that because the volumes are coming in diluted businesses and you've still got, frankly, I would say, a pretty poor performance in beauty care. Or are the results being distorted by this whole shared site model that we talked about last year with the other parts of the portfolio still lagging in
Trustpilot
