Group sales rise 10.5% on prior year period to reach CHF 2.2bn
Swiss fragrance and flavour specialist Givaudan has announced sales of CHF 2.2bn for the first six months of 2010, an increase of 10.5% in local currencies and 10.2% in Swiss francs. The group’s fragrance division garnered sales of CHF 1bn, up 13.3% in local currencies on the same period of the previous year, while the flavour business recorded sales of CHF 1.2bn, a local currency increase of 8.1%.
Within the fragrance division, fine fragrances grew 24.2%, the combined result of new account wins, recent launches and customers returning to pre-2009 order patterns, according to Givaudan. Consumer products climbed 9.9%, while fragrance ingredients grew 15.8%.
Latin America was Givaudan’s fastest growing geography, with business in the region increasing 26.1%.
For the full year 2010, Givaudan expects to further outgrow the underlying market and despite the strong comparables of the second half of 2009, it anticipates sales growth of above 5% in local currencies for the full year.