Swiss flavouring and fragrance maker Givaudan today announced sales of 668.7m Swiss Francs (US$554m) in the first quarter of 2005, compared with 701.6m francs in the same period last year.
The company’s flavouring division made sales of 395.6m francs, compared with 423.3m francs in the same period last year, while the fragrance division, which supplies the cosmetics and consumer products industries had turnover of 273.1m francs, compared with 278.4m in the year earlier period.
The fall in flavouring sales, of 3.2% in local currencies and 6.5% in Swiss francs, reflect the strong comparables from 2004, the company said. “In addition, sales were affected by lower prices for naturals such as citrus and vanilla,” it said. “The strong sales performance in the emerging markets, particularly in Asia and Eastern Europe, reflects Givaudan’s commitment and investments in these fast growing regions.”