Symrise Q1 revenue misses estimates on weak cosmetics performance in China [Reuters]
SYMRISE AG UNSP/ADR (SYIEY)
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Source: Reuters
Symrise Q1 revenue misses estimates on weak cosmetics performance in China April 28 (Reuters) - German flavour and fragrance maker Symrise on Tuesday reported a rise in quarterly revenue, but missed analysts’ expectations due to weak performance of its cosmetics division in China and lower sunscreen sales. The company’s first-quarter revenue rose 2.3% from a year earlier on an organic basis to 917.1 million euros ($992.85 million), compared with analysts’ consensus of 933.2 million euros. The producer of ingredients, such as artificial mint flavor for toothpaste or chewing gum, confirmed its long-term target of full-year sales organic growth between 5% and 7% on average by 2025. ($1 = 0.9237 euros) (Reporting by Silvia Recchimuzzi in Gdansk; Editing by Aditya Soni)
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