Givaudan: share up after quarterly results
(CercleFinance.com) - Swiss fragrance and flavour producer Givaudan is up almost 3% in Zurich on Tuesday after announcing much better than expected Q1 sales figures.
Just before noon the stock was up 2.6%, the best performer on the Swiss SMI and one of the strongest risers on the STOXX Europe 600 index.
This follows Givaudan reporting quarterly sales of 1.67 billion Swiss francs (approximately 1.5 billion euros), up 7.7% on a comparable basis, above UBS' estimate for organic growth of 4.3%.
In a statement, Givaudan explained that its Fragrance and Beauty business benefited from strong performances in home care, health, personal care and "active beauty".
The Swiss group also stated that it expects to generate organic sales growth of 4% to 5% p.a. through to 2025.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Just before noon the stock was up 2.6%, the best performer on the Swiss SMI and one of the strongest risers on the STOXX Europe 600 index.
This follows Givaudan reporting quarterly sales of 1.67 billion Swiss francs (approximately 1.5 billion euros), up 7.7% on a comparable basis, above UBS' estimate for organic growth of 4.3%.
In a statement, Givaudan explained that its Fragrance and Beauty business benefited from strong performances in home care, health, personal care and "active beauty".
The Swiss group also stated that it expects to generate organic sales growth of 4% to 5% p.a. through to 2025.
Copyright (c) 2021 CercleFinance.com. All rights reserved.