By  on October 29, 2008

PARIS — Citing prevailing economic uncertainty, flavors and fragrance firm Symrise cut its full-year earnings forecasts Tuesday. The Holzminden, Germany-based company said it expects full-year earnings before interest, taxes and amortization to be flat year-over-year compared with previous guidance, which had forecast a 6 percent uptick.

The company reported net profits were down 24 percent in the third quarter to 24.1 million euros, or $36.3 million at average exchange. For the nine-month period, profits were up almost 1 percent to 84.9 million euros, or $129.3 million. Sales in the third quarter rose 2 percent year-over-year to 333.5 million euros, or $502.5 million, and increased 2 percent in the nine-month period to 1 billion euros, or $1.54 billion.

The firm added that the quarter was up against an “extraordinarily strong third quarter in 2007.” The company said it expects to report a full-year sales increase of 6 to 7 percent in local currencies.

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