Flavour and fragrance company Givaudan saw its sales slow in the third quarter, dropping to 5.2% in the third quarter, down on the 10.1% sales growth recorded in the first half of the year.
In the three months 30 September, the Switzerland-based firm saw sales grow 5.2% to CHF1.08bn (US$1.12bn).
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The flavour division, which serves food and beverage customers, saw growth slow the most, posting 3.8% growth for the quarter to CHF562m – but 6.5% to CHF1.7bn for the nine-month period.
For the nine-month period, Givaudan’s total sales grew 8.5% to CHF3.28bn.
The group said that for the fourth quarter, it expects to see a continued good performance and is confident of achieving its goals of sales growth of above 5% in local currencies and an EBITDA margin of 22.7%.
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