January 15, 2020 / 8:32 AM / 6 days ago

Chr Hansen sees lower sales growth amid weak demand

COPENHAGEN, Jan 15 (Reuters) - Food ingredients maker Chr Hansen on Wednesday warned of lower sales in both the short and longer term due to weakness in some of its key markets including dairy, where plant-based alternatives have hit demand.

Chr Hansen’s shares fell around 6% in early trade after it reported first-quarter results in which earnings before interest and tax (EBIT) fell 1% on the year.

Chr Hansen now expects organic sales growth this year of 4%-6%, compared with a previous forecast for 4-8%. It also ditched its long-term organic sales outlook of 8-10% until 2021/2022 and instead set a new preliminary target of mid-to-high single-digit growth per year until 2024/25.

Reporting by Stine Jacobsen, editing by Louise Heavens

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