07 April 2006 09:18 [Source: ICIS news]
LONDON (ICIS news)--Swiss flavours and fragrances group Givaudan unveiled on Friday a 12.8% rise to SF754m ($577m/Euro477m) in first quarter sales with strong overall growth in all major regions.
Givaudan, which did not disclose quarterly earnings, said it had made a strong start to the year, clearly outgrowing the market with group sales up 6.2% in local currencies.
The fragrances division achieved sales of SF313.6m, up 14.8% in Swiss francs and 8.6% in local currencies from the SF273m in Q1 last year. Givaudan said growth in the division's core business - fine fragrances, consumer products and specialty ingredients - was in the high single digits.
Sales of fragrance ingredients, however, declined slightly with double-digit growth in specialties failing to offset the impact of the further discontinuation of commodities.
Givaudan's flavour division boosted sales by 11.4% (4.5% in local currencies) to SF440.5m. Latin America achieved a double-digit rise, while Europe, Africa, Middle East and North America enjoyed strong single-digit growth.
Asia Pacific sales declined slightly in comparison to a strong quarter a year earlier. Givaudan said sales to China continued to post double-digit growth but performance was partially offset by a decline in sales to Japan.
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