Givaudan FY sales and profit up 6%, confirms guidance
ZURICH (Reuters) – Fragrance and flavour maker Givaudan <GIVN.S> said it was on track to reach its 2020 guidance after net profit and underlying sales rose around 6% last year, helped by strong growth in its fragrance division.
Givaudan, which develops tastes and scents for customers in the consumer and luxury goods industry, has been benefiting from its focus on natural ingredients and health and wellness products, but also recent trends requiring new flavours like planted foods.
“The company continues to implement price increases in collaboration with its customers to fully compensate for the increases in input costs,” Givaudan said in a statement on Friday.
(Reporting by Silke Koltrowitz; Editing by Michael Shields)