Symrise H1 Profit Decline

Symrise reported a drop in its first-half net income to €77.4 million from €88.8 million last year. This corresponds to earnings per share of €0.65 for the recent period versus €0.75 a year earlier.

However, in the first six months of the current financial year, Symrise posted an increase in group revenues of about 2 % to €811.8 million from €797.5 million in the previous year. The sales increase was 2.6% at local currency.

The company added that during the first half, Symrise's earnings picture was mainly affected by high raw material costs and currency effects. For 2011, Symrise said it continues to target an EBITDA margin of around 20%.