HOLZMINDEN (dpa-AFX) - Symrise Ag (SYIEF.PK, SYIEY.PK), a supplier of supplier of fragrances, flavorings, cosmetic active ingredients, Thursday reported higher profit for the second quarter, helped by increased revenues. The company confirmed its full year outlook.
Net income for the quarter rose to 41.04 million euros from 36.3 million euros. Earnings per share advanced to 0.35 euros from 0.30 euros.
Sales for the quarter climbed to 438.94 million euros from 395.06 million euros.
Dr. Heinz-Jürgen Bertram, CEO of Symrise, said, 'We continued to gain momentum in the second quarter and benefited from a considerable rise in demand in both, the Emerging Markets and established markets.'
Bertram added that the firm expects further growth in the second half of the year and additional growth is expected from its new menthol production plant which has been operating since the end of June.
The company confirmed its raised outlook from May and is aiming for sales growth at local currency between 3 percent and 5 percent for the full year.
Symrise also continues to focus on its approach to realize sustainable, profitable growth and aims to achieve an EBITDA margin of about 20 percent, despite persistently high raw material and energy prices
In May, Symrise had raised its sales forecast to growth between 3 percent and 5 percent for the year, adding that it aims at sustainable, profitable growth and continues to target an EBITDA margin of about 20 percent for the year.
Copyright RTT News/dpa-AFX