GVDNY Givaudan SA (PK)

By Pierre Bertrand

Givaudan SA on Tuesday reported a rise in its third-quarter sales as it implements price increases to overcome higher input costs.

Sales reached 1.81 billion Swiss francs ($1.81 billion) compared to CHF1.69 billion for the prior-year period, the Swiss flavor-and-fragrance company said.

Analysts had expected the company's third-quarter sales at CHF1.83 billion, according to an average of company-collated analyst forecasts.

Sales were largely driven by its fragrance and beauty unit, where sales increased 7.1% to CHF843 million.

The company said that it was on track in implementing price increases to compensate for higher in input costs so far this year.

Givaudan maintained its mid-term goals including achieving organic sales growth of 4%-5% on a like-for-like basis and free cash flow of at least 12% on average over its five-year strategic cycle ending in 2025.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

October 11, 2022 01:35 ET (05:35 GMT)

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