A downturn in sales throughout Western Europe has seen Barry Callebaut fail to meet its projected growth for the first quarter. However the Swiss chocolate supplier said it is still outperforming the market.
Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite good local growth in its flavours businesses.
Givaudan’s has reported fair growth in Q1 in local currencies but a decline in Swiss Francs, but the second half of the year promises greater protection against raw material cost rises as a series of price increases will come into effect in Q2.
Symrise has reported good sales growth in local currencies the first half of 2008 driven by flavours and emerging markets, although fragrance growth was hit by the drop-off in consumer spending on luxury goods.