07 October 2005 12:47 [Source: ICIS news]
LONDON (ICIS news)--Stronger third quarter sales growth helped lift nine months revenues at Givaudan by 1% to SF2.09bn ($1.6bn/Euro1.4bn), the Switzerland-based fragrances and flavours producer said on Friday.
Calculated against re-stated figures for 2004, group sales in the third quarter were 7.7% ahead at SF718m. On this basis, third quarter fragrances sales were up 8.1%, at SF296m and flavours sales up 7.4% at SF392m.
Givaudan said sales growth improved from the first half but nine-months' sales performance continued to be hit by rationalisation of non-core ingredients, particularly in fragrances.
Nine months' sales of fragrances were up 2.8% (3.3% in local currencies) to SF851m. Flavour division sales, however, were down 0.2% (up 0.5% in local currencies) at SF1.23bn. Total group sales in January to September were up 1.6% in local currencies.
The company did not release any profits data or a full third quarter sales breakdown. It said, however, that it remains confident of achieving “another good result in 2005”. It reports full year financial figures on 21 February next year.In 2004, Givaudan’s sales were up 1.3% at SF2.68bn. Full year 2004 operating profits were 16.6% higher at SF484bn and net profits were up 20.3% at SF350m.
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