Food ingredients maker Chr Hansen sees boost from lockdown rush for frozen pizzas [Reuters]
CHR HANSEN HLDG A/S S/ADR (CHYHY)
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Source: Reuters
Food ingredients maker Chr Hansen sees boost from lockdown rush for frozen pizzas COPENHAGEN (Reuters) - Food ingredients maker Chr Hansen said on Thursday it had not seen a negative impact from the coronavirus but rather a short-term boost in demand as consumers opt for at-home consumption such as frozen pizzas and probiotics for immune system support. Shares in Chr Hansen rose almost 9% in early trade to their highest level since October and were the second-biggest gainer on Europe’s STOXX 600 index after the Danish company reported organic growth above expectations for its second quarter and stuck to its full-year sales outlook. Chr Hansen sells its enzymes and bacteria, used in products like dairy, dietary supplements and wine, to some of the world’s largest food manufacturers such as Nestle and Danone. As eating in restaurants has been severely restricted, and shut down altogether in many countries, to curb the spread of the virus, demand has largely shifted to take-away or home
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