By
Reuters API
Reuters API
Published
Apr 28, 2020
Apr 28, 2020
Symrise first-quarter revenue misses estimates on weak cosmetics performance in China
By
Reuters API
Reuters API
Published
Apr 28, 2020
Apr 28, 2020
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.
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