Fragrance sales good at Givaudan
Swiss company Givaudan, have been hit by the discontinued sales of
fragrance ingredients and adverse conditions for flavours but the
company said its current fragrance activities are showing
The fragrance division recorded nine months sales of SF827.8 million, up 2.5 per cent, when excluding the impact of discontinued sales of fragrance ingredients. The growth has been led primarily by fragrances sold to retail and designer brands with new launches in North America particularly lifting sales.
Consumer products also fared well, although it was the household and air care segments showing double digit growth.
The division has also been boosted by a double digit growth in specialty ingredients, an increasing focus for the group, which is looking to move into higher value-adding products. Commodities have declined over the year as a percentage of the overall portfolio, while sales of the recently launched specialities Pharaone and Javanol show an encouraging trend, said Givaudan.
The flavours unit saw smaller growth, with beverage and dairy knocked in Europe due to 'adverse weather conditions and strong comparables' that saw a hot summer in 2003 spear ice cream and beverage sales.
Overall the Geneva-based firm reported a 0.3 per cent drop (in local currency) for the group to CHF2.06 billion (€1.32bn).