Switzerland's Givaudan Q1 sales rise 2.7% to Swfr1.09bn

16 April 2013 06:34  [Source: ICIS news]

SINGAPORE (ICIS)--Givaudan’s sales rose by 2.7% year on year to Swiss franc (Swfr) 1.09bn ($1.17bn) in the first quarter of this year on the back of higher revenues from both its core divisions, the Switzerland-based firm said on Tuesday.

“Givaudan started the year with a continued solid business momentum with a full project pipeline and win rates sustained at a high level, and with growth rates in line with the company’s mid-term sales growth objectives,” the company said in a statement.

Its core fragrance division posted sales of Swfr517.1m in the first quarter of 2013, an increase of 3.6% year-on-year, while the firm’s flavour division’s revenues rose by 1.9% to Swfr571.8m.

“Mid-term, the overall objective is to grow [sales] organically between 4.5% and 5.5% per annum, assuming a market growth of 2-3%, and to continue on the path of market share gains,” the company added.

($1 = Swfr0.93)

By: Nurluqman Suratman

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