UPDATE 1-Symrise further upgrades full-year sales target as rebound continues [Reuters]
SYMRISE AG UNSP/ADR (SYIEY)
NASDAQ:AMEX Investor Relations:
symrise.com/investors
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Source: Reuters
for ingredients used in travel or leisure products continued to recover in the third quarter from the impact of the pandemic. Advertisement The company now expects like-for-like growth of about 9% in its full year sales, up from guidance of an increase above 7%, following an upgrade in August. Symrise said strong demand for fragrances, sunscreen and ingredients for food and beverages for out-of-home consumption continued to be one of the main drivers behind sales growth, together with pet food ingredients. Advertisement “The increasing number of households with pets across the world generated high demand for pet food applications, resulting in strong growth in this business unit,” Symrise said in a statement. Nine-month sales recorded like-for-like growth of 9.2% to 2.88 billion euros ($3.35 billion), slightly above a company-provided consensus of 2.87 billion. It also confirmed its earnings before interest, tax, depreciation and amortisation (EBITDA) margin target for t
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