Givaudan sees sales improvement
The fragrances and flavours company, Givaudan, says it expects an upswing in sales for the second half of the year.
The forecast came after the former Roche division reported an increase in sales of eight per cent for the first half of the year to just over SFr1.2 billion ($690 million).
The figures were the first for the company since it became independent from Roche in June.
"Thanks to business deals struck recently, we expect an upturn in sales in the second half of the year," said a company statement.
It added that cost savings and its solid financial position should let it post good full-year results.
Givaudan is the world leader in flavours and number two in fragrances behind US-based International Flavours and Fragrances. Givaudan has a 14 per cent share of the SFr14 billion global market.
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