- Q1 sales £431m, up 1% at constant currency.
- Beauty Actives +12% CC and F&F +10% CC offset Crop Protection -8% CC; Consumer Care +4% CC, Life Sciences -3% CC, Industrial Specialties -2% CC.
- Transformation programme on track to deliver more consistent sales growth, improved margins and stronger cash generation under the 2026–2028 framework.
- FX assumptions: constant-currency uses 2025 averages US$1.32/€1.17; approx £1m impact per $0.01 or €0.01 and ~£4m potential negative FY26 operating profit impact if March 2026 rates persist.
Quarter overview
Q1 sales were £431m, up 1% at constant currency versus Q1 2025; growth in Beauty Actives and Fragrances & Flavours offset weaker Crop Protection, leaving results in line with guidance and no change to the full‑year 2026 outlook.
Regional trends
Latin America led growth (+11% CC); EMEA and Asia were broadly stable (+2% CC each); North America declined (−7% CC) due to Crop Protection normalisation, adverse weather for some customers and consumer pressure.
Business segment performance
Consumer Care +4% CC driven by Beauty Actives (+12% CC), F&F (+10% CC) and Home Care (+6% CC), while Beauty Care fell; Life Sciences −3% CC with Crop Protection −8% CC and Seed Enhancement +2% CC; Industrial Specialties −2% CC.
Operational and market context
The Middle East conflict had no material Q1 effect; the business is managing impacts, raising prices to recover input cost inflation and prioritising employee safety and customer continuity.
Transformation and financial guidance
The transformation programme is on track to deliver more consistent sales growth, improved margins, higher cash generation and better returns under the 2026–2028 framework; constant‑currency guidance uses 2025 averages (US$1.32/€1.17), with an estimated ~£1m impact on adjusted operating profit per $0.01/€0.01 and an approximate £4m negative FY26 operating profit impact if March 2026 rates persist for Apr–Dec.
