Symrise's organic growth slows down to 1% in fourth quarter [Yahoo! Finance Canada]
SYMRISE AG UNSP/ADR (SYIEY)
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Source: Yahoo! Finance Canada
FRANKFURT (Reuters) - German flavour and fragrance maker Symrise on Thursday reported a clear slowdown in its fourth quarter organic growth, missing market expectations, in a sign of sales normalisation after a period of strong growth especially in its scents unit. Symrise, whose fragrances go into the perfumes of French luxury giants LVMH and Kering, said organic sales grew only 1% in the final quarter of 2024, compared with 9.5% growth a year earlier. Analysts on average were expecting 4.8% growth for the quarter, a Vara consensus poll showed. Morgan Stanley analysts said in a note that the notable slowdown, especially compared to the high bar set by Swiss peer Givaudan last week, would likely weigh on Symrise's shares. The shares were trading 0.6% lower by 1022 GMT, after rising 4% in early Frankfurt trade on the back of a slight consensus beat in annual sales and core profit margin. Givaudan's and Symrise's shares have fallen more than 14% and 18% respectively in the pa
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