GERMANY: Symrise Q1 profits almost double
Food ingredients group Symrise said today (4 May) that its first-quarter profits had almost doubled thanks to a 13% rise in sales and the benefit of restructuring moves undertaken last year.
Flavours maker Symrise reported net income of EUR40.4m, up sharply from EUR20.9m a year earlier. The company booked a 13.2% rise in sales in local currencies to EUR392.5m.
Sales in Asia-Pacific rose 17% and Symrise said emerging markets now accounted for 44% of revenues.
However, CEO Heinz-Jürgen Bertram added: "We are also pleased about the very positive development of markets in both Western and Eastern Europe. The sharp jump in earnings confirms that our company is in excellent shape."
HJ Heinz said it will continue to invest "aggressively" in emerging markets as it eyes possible M&A opportunities....
Brazilian meat giant JBS has denied it is interested in buying New Zealand's largest poultry processor Tegel Foods....
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