Givaudan Continues to Increase Prices After Posting Lower 3Q Sales
12 October 2023 - 4:51PM
Dow Jones News
By Andrea Figueras
Givaudan reported a decline in sales for the third quarter in
what it called a challenging environment in some of its markets and
segments, and said it continues to implement price increases to
offset higher input costs.
The Swiss flavor-and-fragrance company achieved sales of 1.7
billion Swiss francs ($1.88 billion) compared with CHF1.81 billion
for the prior-year period, it said on Thursday.
The largest contributor to group sales during the quarter was
the taste-and-wellbeing segment, with CHF891 million, although the
figure was lower than in the previous year.
The company maintained its midterm targets, which are part of a
five-year strategic cycle that ends in 2025, and aims to reach
organic sales growth between 4% and 5% on a like-for-like basis and
free cash flow of at least 12% on average.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
October 12, 2023 01:36 ET (05:36 GMT)
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