Paul Manning: Well, it’s a very, it’s a mixed bag. Some customers are done destocking, they’ll tell you that they order normally. Very easy. Others will tell you, well, we’re destocking and here’s the date, we’re going to start resuming normal order patterns. And then there’s a whole group of customers who have, it’s a little bit harder for them to determine. And understandably, because it’s harder for them to see what’s happening in the market, in terms of end consumer activity. So no clearer picture, I would tell you that many more personal care customers are closer to being out of destocking than say food customers are in general. But it’s a complicated picture and when a customer is ordering, 700, 800 raw materials, they may not always have a precise set of calculations for your particular raw material to help you conclude when they will start ordering as normal.
So complicated picture. But I think in general, as I said before, flavors, I think we’re pretty, pretty much should start to see substantial reduction in destocking here in Q3. We should become I would like to think completely out of that by Q4. Colors will be very much in the destocking frenzy here in q3, but substantially improved in Q4 and beyond. And then, Asia Pacific, I would tell you that right now we’re looking just fine for Q3.
Operator: [Operator Instructions]. And our next question comes from David Green of Boldhaven. Please go ahead.
David Green: Couple of questions. In terms of your assumptions around full year guidance, I guess baked into that is an improvement coming through in the second half, would be really helpful just to get a bit of color behind what’s giving you the confidence there. And maybe specifically, you referenced Paul an improvement in SME in Q3 from less of a headwind from destock. But what gives you the confidence in that, given the general ability to sort of predict the destock is very difficult at the moment. And then, obviously, why APAC Q2 was really a bit of an anomaly. And colors, Q4, you said, you’re expecting a strong rebound again, what gives you the visibility and confidence on that for 4Q.
Paul Manning: All right, let me write all those down. You had about four in there. Okay. So the first one, what gives me the confidence most simply that the level of new wins we’re generating in the groups and the implementation of pricing. So across color, flavor in Asia, we continue to have really, really strong new win rates, we’re still very active at customers, we’re still very successfully selling our products. And to me, that is the number one thing that we can control. And if we don’t execute on that, then we’re not running the business properly. But we are executing on that. And that is running very, very well. And that bodes very, very well for the future. So that gives me a lot of confidence. Number two pricing, I think we’ve done very well on implementing pricing.
We generate I was about high-single digit benefit in Q2. And we’ve been able to maintain that pricing in most cases and so we’ve been able to do that without sort of adding a lot of attrition to the business which is a very, very important factor. So those factors. Those are really the basis for my confidence, as I look to, even the Q3 and Q4, because these wins, and as I describe them, I mean, they start and then they’ll run their cycles, across food, across personal care, very high-quality wins, as well. I think that’s another good factor. To your point about flavors, kind of starting to see some improvement. In Q3, yes, I think flavors will start seeing some improvement in Q3. Again, a customer can’t destock forever. And we’re nearing the end for many.
