RE:Gilles is one tall tale - he has to go!!!The lack of intergity is astounding with respect to comments made about their distributor SYMRISE;
2022 record revenue was attributed to Symrise; Mr. Gagnon noted in year end results news release, “We kicked off the year with the signing of a three-year renewable Supply and Distribution Agreement with leading global active ingredients provider, Symrise, which served as a major catalyst to our best ever financial performance year in the Company’s history.” Based on the company’s 10% revenue growth in 2022, it was in line with the historical 10% annual rev growth that investors have grown to hear and see in the investor presentations. In addition the Symrise 3 year contract renewal was a routine renewal.
The collapse in revenues seen in H1 2023;
"The decrease in sales revenue for the first 6 months was primarily driven by an overall decrease in sales volume of 61% mainly due to a one-time stocking campaign by one major customer in 2022" : Q2 NR from 8/29/23. Did J&J stock up on CEAPRO's AV so it could tranisition to SYRMISE's competing product?
Is this statement by Gilles from the Q2 report believable?
“Despite a slower start to the year, our business remains solid, and we expect the reordering pattern from one major customer to resume shortly."