Dsm-firmenich raises growth outlook in line with expectations

Nov 4 (Reuters) - Dsm-firmenich reported third-quarter core profit a touch above market expectations on Wednesday, citing more contract wins, and raised its full-year growth outlook but failed to impress investors. 

As a supplier to consumer goods, food and nutrition companies, including fragrance makers owned by LVMH and Kering, the company is seen as a barometer for demand, pricing and customer buying patterns across global markets.

• The stock fell 7.5% by 0805 GMT with analysts saying that consensus was already reflecting the revised outlook, which, combined with quarterly results broadly in line with expectations, was not enough to lift shares

• Dsm-firmenich's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were €482 million ($541.29 million) in the quarter, slightly above the company-provided consensus of €478 million

• Sales rose to €2.37 billion in the quarter, compared with a consensus forecast of €2.36 billion, while like-for-like sales increased 5%, against expectations for 4.7% growth

• The group, which raised its full-year sales growth guidance to around 5%, up from previous 2-4%, said that business conditions remain supportive moving into the final quarter of the year

• Last month peer Givaudan reported a surge in fine fragrance growth, giving its shares a 7% boost

($1 = 0.8905 euros)

(Reporting by Vera Dvorakova and Lucie Barbier in Gdansk; editing by Izabela Niemiec)