Symrise Q1 op profit unchanged at €54m

30 April 2008 13:27  [Source: ICIS news]

MUMBAI (ICIS news)--Germany-based Symrise first-quarter earnings before interest and tax (EBIT) remained flat year on year at €54.2m (€84m) despite an increase in the value of the euro and robust sales in all regions and business, it said on Wednesday.

“Raw material cost increases were compensated for by improvements in production efficiency,” the firm said.

The firm’s net profits for the period ended 31 March dropped 14.7% to €24.9m from €29.2m while sales during the period rose 2% to €338m from €331m, it added.

The flavor and nutrition division sales rose 5.6% to €158.2m from €149.8m, while its scent and care segment’s sales increased 3.7% to €179.8m, it added.

The firm expected sales to grow by 5% to 6% for 2008, said Symrise CEO Gerold Linzbach.

Symrise shares were trading 2.84% up at €15.96 in trading on the Xetra platform.

($1 = €0.64)

By: Aaron Rodrigues
+65 6780 4359

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