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Markets News

Symrise sees 2020 sales below its long-term target

Oct 29 (Reuters) - German flavour and fragrance maker Symrise said on Thursday it expects organic growth of 3% to 4% in 2020 sales after reporting revenues slightly below expectations for the first nine months.

The forecast for the year is below its long-term target of annual organic growth of 5% to 7%. The company said it aims to increase its annual sales to 5.5-6.0 billion euros ($7.09 billion) by the end of 2025.

Revenue rose 5.9% year-on-year to 2.70 billion euros in the January-to-September period, versus analysts’ average estimate of 2.72 billion euros. ($1 = 0.8461 euros) (Reporting by Silvia Recchimuzzi in Gdansk; Editing by Himani Sarkar)

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