Strong Demand for Savory and Beverage Ingredients Boosts Sales at Symrise

11 Aug 2016 --- Strong demand for savory and beverage ingredients helped Symrise report a sales lift of 16 percent to €1.46bn ($1.62bn) in the first half of the year.

Profits were up by eight percent to €323m ($360m) in the period at the German company, helped by a steady performance across its Flavor and Nutrition division, its biggest division in terms of sales.

Sales in the Flavor and Nutrition division, which makes ingredients for desserts, dairy produce and ice creams, were €795m ($886m) while profits nudged up from €176m ($196m) to €183m ($204m).

Dr Heinz-Jürgen Bertram, CEO of Symrise, said: "After the successful first half year, we are completely on track. We have seized opportunities and substantially increased our sales and earnings. Moreover, with a clear goal in mind, we have implemented a number of strategic initiatives to diversify our portfolio. “

“We have added to our competencies, both in the flavors and fragrances business, which we intend to leverage in order to further strengthen our status as a market leader.”

“Despite the political and economic volatility in some countries, we confidently look ahead to the second half of the year. In both segments we anticipate strong demand and again in 2016 we intend to outperform the global flavor and fragrance market."

Looking ahead, Syrmrise confirmed that it expected to outperform the flavor and fragrance market this year, which is estimated to be growing between two and three percent.

Symrise said: “Despite the political and economic volatility in some countries, the group expects demand and growth dynamics to be generally strong."