BERLIN — Hit by the negative impact of the financial crisis on customer orders and an increase in the cost of raw materials, German fragrance and flavors maker Symrise reported its full-year 2008 net income decreased by 7 percent to 90.4 million euros, or $132.9 million at average exchange.
Citing the market’s current volatility, the Holzminden- and Frankfurt-based company stopped short of giving full-year 2009 profit projections in its annual report, which was published Wednesday. While Symrise predicted the first half of the year will be weaker than the same period in 2008, for the year as a whole, the firm said it expects to grow faster than the market.
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