FRANKFURT (dpa-AFX Broker) - Gerresheimer shares corrected on Tuesday with a slide of 6.7 percent almost to the exponential 200-day line. The specialty packaging manufacturer confirmed a meagre start to the year, which had recently been announced when the figures for the past financial year were presented, wrote analyst David Adlington of JPMorgan in a current commentary. The reduction in inventories is hitting the Primary Packaging Glass (PPG) division harder than expected, even if the improved business in Plastics & Devices (P&D) is mitigating the impact somewhat. Adlington expects the headwind to continue in the second quarter - albeit with somewhat more moderate comparative figures.

The company had already prepared investors for a sluggish start to the year. Many customers from the pharmaceutical industry had filled their warehouses to the brim during the pandemic. When demand dropped, they were sitting on excessively high inventories. They are now reducing these for the time being./ag/mis