Givaudan Q1 sales fall short of industry expectations

Givaudan Q1 sales fall short of industry expectations

Flavors and fragrance company Givaudan saw a weaker-than-expected Q1 sales rise of 5.4 percent to 1.308 billion Swiss francs, missing analyst expectations of 1.335 billion Swiss francs in a Reuters poll.

Despite getting a lift thanks to new contracts and acquisitions, the Swiss company’s like-for-like sales also missed the mark, reaching 5 percent as opposed to the 5.6 percent figure expected.

However, the company fragrance division achieved strong results, rising 5.7 percent on a like-for-like basis, helped by a strong performance in its fine fragrance division.

The company said in a statement, “Givaudan started the year with good business momentum and with the project pipeline and win rates being sustained at a high level.”

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