Givaudan records 3.9% rise in Q1 2013 sales
Fragrance division sales hit CHF517.1m but suffers in Europe and North America
Givaudan, the Swiss flavours and fragrances specialist, has reported sales totaling CHF1,088.9m in the first quarter of 2013, up 3.9% on a like-for-like basis and 2.7% in Swiss francs compared with last year.
In the fragrance division, sales rose by 4.2% on a like-for-like basis and 3.6% in Swiss francs to total CHF517.1m. The company stated that growth was driven by “good growth in consumer products”, which resulted in a 5.7% growth of the compounding business of fine fragrances and consumer products.
However, fine fragrance sales declined 5.5% compared with the first quarter of 2012. In a statement, the company reported: “While new business remains strong, it was not sufficient to offset comparably higher levels of erosion in Europe and North America where sales declined in both regions versus the previous year. In Latin America the business continues to deliver strong growth led by new business and volume gains at a number of accounts.”
