A Taste of Wellness for Savoury and Snacks
Givaudan
Strong gains in dairy and beverage flavour ingredients helped Swiss flavour and fragrance group Givaudan post sales of SF685 million (€457m) for the first quarter of 2003, representing a healthy growth of 21.1 per cent in local currencies and 7.9 per cent in Swiss francs, compared to the same period in 2002.
The flavour division recorded first quarter sales of SF401.6 million (€267m), representing a growth of 33.1 per cent in local currencies and 16.9 per cent in Swiss Francs compared to 2002. Taking into account the acquisition of the FIS business from Nestle in January 2001, sales on a comparable basis grew by 4.8 per cent in local currencies.
A particularly strong performance in Europe and Asia Pacific boosted the first quarter results although all regions and major segments recorded growth for the period.
Asia-Pacific, China, Japan and Australia grew at a double-digit rate, propelled by strong sales in the dairy and beverage segments. This compares to North America where revenues from the foodservice segment showed particularly good growth. According to the company, dairy and confectionery segments also showed good quarter over quarter gains.
European sales grew strongly last year in most major markets and in all segments, reports Givaudan. A drive for new business, particularly in beverages, paid off with new contracts gained across all segments. Turning to Latin America, a strong performance in Mexico helped the region post good local currency growth. Once again, good sales in the beverage segment contributed to the sales results.