Givaudan Q1 Sales Gain 0.4%

PARIS – Givaudan reported a 0.4 percent increase in first-quarter sales, crediting a strong project pipeline. Revenues at the Vernier, Switzerland-based fragrance and flavors supplier reached 1.1 billion Swiss francs, or $1.15 billion, in the three months ended March 31. On a like-for-like basis, sales gained 0.9 percent. “In a challenging economic environment, characterized by a slowdown in the developing markets of Asia and Eastern Europe, Givaudan started the year with a stable business momentum against high comparables in 2014,” the company stated. Sales in group’s fragrance division increased 0.7 percent to 519 million Swiss francs, or $545.7 million. In like-for-like terms, they grew 0.3 percent. Flavor division revenues came to 572 million Swiss francs, or $601.4 million, up 0.1 percent on a reported basis and 1.5 percent on a like-for-like basis. In comparable terms, fine fragrance sales were down 1.8 percent versus a double-digit prior-year comparable; consumer products revenues grew 1.1 percent with solid growth in emerging markets; and sales of fragrance ingredients declined 0.6 percent against a solid first-quarter 2014. Company sales dipped 1.1 percent in mature markets to 593 million Swiss francs, or $623.5 million, while they gained 2.1 percent to 498 million Swiss francs, or $523.6 million, in developing markets. Dollar figures are

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