Cautiousness On FundamentalsStill Retain a Certain Degree of Cautiousness on Fundamentals, But Investors Seem Aware: cautious views on Food Ingredients, interim share loss in Health & Biosciences, Scent pricing and even some enzymes.
Food Ingredients Division PerformanceFood Ingredients at -3% dragged down the Group LFL, noting weakness in Protein Solutions.
Free Cash Flow ConcernsThe only soft spot was the meagre 3Q FCF of $32m although related to a close to -$200m NWC build.