THE WHAT? Symrise has announced a 2.3 percent Q1 revenue rise to 917.1 million euros ($992.85 million), falling short of analyst expectations of 933.2 million euros, according to a report by Reuters.
THE DETAILS The flavors and fragrance company reported a weak performance of its cosmetics division in China as well as lower sunscreen sales, factors said to have contributed to the lower revenue rise.
THE WHY? Despite not hitting expectations, Symrise has confirmed its long-term target of full-year organic sales growth of between 5-7 percent on average by 2025.