Symrise shares fall after slightly missing Q3 sales estimates

Symrise AG

24/10/2024 08:15

** Symrise  SY1G.DE  shares were down as much as 3.7% after
the company posted Q3 sales in the reporting currency slightly
below estimates and said that continuing with double-digit
growth "would be a surprise"
    ** The German fragrance maker reported a 5.2% year-on-year
rise in reported sales in Q3 to 1.26 billion euros ($1.36
billion), slightly behind the 1.27 billion euros expected from
analysts 
    ** "Expectations have been rising after Givaudan's  GIVN.S 
release last week and what Symrise showed today is probably not
enough", said Vontobel analyst Arben Hasanaj
    ** Shares on track for their worst day since early August
($1 = 0.9274 euros)

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))