Swiss fragrance and flavour maker Givaudan confirmed its mid-term targets after like-for-like sales rose 7.7% in the first quarter, helped by strong demand for its fragrance and beauty products.
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ZURICH (Reuters) -Swiss fragrance and flavour maker Givaudan said strong demand for products such as soap and snacks, notably in emerging markets in Latin America and Asia Pacific, pushed its like-for-like sales up by 7.7% in the first quarter.
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During the pandemic, Givaudan has been benefiting from demand for household items including soap and detergent, as well as snacks for which it makes ingredients. On the other hand, its business with foods for out-of-home consumption and perfumes took a hit last year.
“We don’t give specific growth guidance for this year, but we remain optimistic for 2021 after the strong start,” Chief Executive Gilles Andrier told an investor webcast on Tuesday.