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Givaudan posts 3.1% underlying sales growth in Q3

ZURICH, Oct 8 (Reuters) - Flavour and fragrance maker Givaudan said sales rose 3.1% on a like-for-like basis in the third quarter, an improvement over the second quarter, as demand for household goods and packaged foods held up during the COVID-19 pandemic.

The Swiss company has so far weathered the crisis, but some areas of its portfolio, such as fragrances for perfumes and flavours for foods or drinks sold in restaurants or hotels continued to suffer, it said in a statement on Thursday.

Givaudan announced new mid-term targets in August. It aims to increase its annual organic sales by 4-5% on average until 2025, mainly due to acquisitions, a focus on smaller and local customers and fast-growing China. (Reporting by Silke Koltrowitz; editing by Thomas Seythal)

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