Givaudan has reported a 9.8 percent Q3 sales growth, beating industry expectations, according to a report by Reuters.
With sales reaching 1.4 billion francs ($1.41 billion), the fragrance maker stated it had continued to implement price increases in order to overcome input costs for materials used for its scents and food flavourings. The sales growth beat analyst expectations of 1.37 billion francs.
The company stated, “Givaudan continued the year with good business momentum and with the project pipeline and win rates sustained at a high level.”
The sales was attributed in part to the growing consumer desire for natural ingredients, an avenue with has been a strategic focus from the fragrance maker, with its most recent purchase being natural ingredients group Naturex.
Givaudan reported increased sales in its fragrance division of 6.8 percent, with a particularly strong performance by fine fragrance, however, flavours reported a slower group due to tougher comparisons in North America.