Givaudan SA mentioned Thursday that gross sales have been flat in its third quarter, because the coronavirus pandemic continued to have an effect on a few of its actions.
Gross sales within the quarter have been secure at 1.57 billion Swiss francs ($1.71 billion), the Swiss taste and perfume maker mentioned.
For the primary 9 months of the yr, gross sales grew 2.7% to CHF4.79 billion, the corporate mentioned. On a like-for-like foundation, gross sales elevated 3.7%.
“Within the product segments most affected by the Covid-19 pandemic, particularly tremendous fragrances and, to a lesser extent, lively magnificence in perfume and wonder and meals service in style and well-being, the group skilled a continued discount in enterprise exercise, because the restrictions associated to the Covid-19 pandemic curtailed retail and journey retail exercise in addition to out-of-home meals consumption,” mentioned the corporate in regards to the January-September interval.
“We purpose to outpace the market with 4%-5% gross sales progress and a free money stream of 12-17% of gross sales, each measured as a median over the five-year interval of our technique cycle,” Givaudan mentioned.
Write to Olivia Bugault at firstname.lastname@example.org