ZURICH, April 11 Flavour and fragrance maker
Givaudan confirmed its mid-term target of like-for-like
sales growth of 4-5 percent on average after growth slowed less
than expected in the first quarter, helped by a strong
performance in North America.
Givaudan and its peers are grappling with slowing growth at
consumer goods groups such as Nestle and Unilever
, to whom they supply flavours for foods and
drinks and fragrances for toothpaste and soap, and a rise in raw
Sales of 1.24 billion Swiss francs ($1.23 billion) in the
first quarter of 2017 were up 3.5 percent like-for-like, the
company said in a statement on Tuesday, down from 5.8 percent in
the year-ago period but above the average estimate of 1.5
percent growth in a Reuters poll.
($1 = 1.0087 Swiss francs)
(Reporting by Silke Koltrowitz; Editing by Michael Shields)