Givaudan's Sales Up 8.8% In 9M12
News: Swiss flavouring and fragrance firm Givaudan's sales increased 8.8% year-on-year to CHF3.23bn (US$3.46bn) in 9M12. The rise has been attributed to a focus on everyday essentials like shampoo and toothpaste and growing demand from emerging markets (EMs), which account for 43% of Givaudan's total sales. Strong growth in EMs will enable the firm to counter the impact of the ongoing economic slowdown and consumer goods rivals. The firm's sales grew to CHF1.105bn (US$1.18bn) in Q312, compared with CHF966mn (US$1.03mn) in the year-ago period.
BMI View: Givaudan suggests that its market-focused growth strategy gives it a unique opportunity, despite the economically challenging times, to enhance its position in the flavours and fragrances segment. This optimism has been its salvation, with a turn towards more emerging markets.