Givaudan maintains strong growth
Givaudan has reported sales of CHF2200.5m for the first nine months of 2006. That equates to growth of 3.3% in local currencies and 5.5% in Swiss francs, which Givaudan says it has managed despite strong comparables in the third quarter and the ongoing streamlining of commodity ingredients. The company is also confident that it will perform well for the full year to maintain its solid 2005 year end margins.
Givaudan has reported sales of CHF2200.5m for the first nine months of 2006. That equates to growth of 3.3% in local currencies and 5.5% in Swiss francs, which Givaudan says it has managed despite strong comparables in the third quarter and the ongoing streamlining of commodity ingredients. The company is also confident that it will perform well for the full year to maintain its solid 2005 year end margins.
The fragrance division was particularly strong, up 5.7% in local currencies and 8% in Swiss francs with nine month sales of CHF918.6m. Fine fragrance continued its double digit growth rate in all regions, “essentially driven by new wins and a low erosion rate of the existing product portfolio,” says Givaudan.
Consumer products were strong in Eastern Europe, Asia Pacific and Latin America, with double-digit growth in all these areas. In Asia there was good growth in all customer groups and in the key markets of China and India, while in Latin America, Argentina and Mexico saw good growth with regional and local customers. North America saw good growth with regional customers.
In fragrance ingredients, specialty sales also continued to show double-digit growth. This is said to partially offset a planned decline in commodity ingredients.