BUZZ-IMCD falls after missing Q3 profit expectations

Reuters
昨天
BUZZ-IMCD falls after missing Q3 profit expectations

** Shares in Dutch chemicals and foods ingredients company IMCD IMCD.AS fall 5% after publishing lower-than-expected core profit in Q3

** Jefferies says the earnings before interest, taxes and amortization (EBITA) fall 11% to 118.7 million euros ($138.43 million) during the period, below the 123.1 million euros expected in a Visible Alpha consensus mainly due to a negative currency effect of 5%

** "The miss, ..., is due to more pronounced organic earnings decline in Americas and APAC, while EMEA was less bad," JPMorgan analysts adds

** The broker notes that the group also didn't provide any "formal guidance"

** Shares in IMCD are trading at their lowest price since July 2020

($1 = 0.8575 euros)

(Reporting by Mathias de Rozario in Gdansk)

((mathias.derozario@tr.com))

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