Symrise posts 2008 results
This article was originally published in The Rose Sheet
Executive SummaryU.S. acquisitions help boost sales for the fragrance and flavors firm by 25% to roughly $1.65 bil. in fiscal 2008, Symrise announces March 4. Firm bought Intercontinental Fragrances and Manheimer Fragrances in October (1"The Rose Sheet" Oct. 6, 2008, p. 10). Net of acquisitions, sales increased by 3.5% in local currencies. Symrise says it made "additional progress" by tapping the sales potential of large multinational customers and fast-growing emerging markets. Sales in emerging markets grew by 8% and claimed 39% of total sales in 2008, firm notes. Sales for firm's Scent & Care division were roughly even with 2007, at approximately $842.4 mil. for the year. Economic crisis is likely to produce a weaker first half of 2009 as compared with the prior-year period, but Symrise expects to grow faster than the market. "Despite the challenging business environment, we consider our core business to be as stable and robust as ever," CEO Gerold Linzbach says
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