By  on October 8, 2009

LONDON — Firmenich reported sales for the year ended June 30 dipped 4.3 percent to 2.64 billion Swiss francs, or $2.36 billion at average exchange for the period.

The flavors and fragrances firm said fine fragrances suffered from the difficult economic climate as consumers clamped down on spending, while products linked to everyday needs, such as washing, cleaning, eating and drinking, were more resilient in the year.

“Fine fragrance sales suffered from the recession as consumers reduced spending on discretionary items and clients extensively destocked their inventories,” the company stated. “Although we remain cautious, we hope that the tentative signs of improvement at the end of the fiscal year will continue as we move forward. The downturn was an opportunity to refine our business and creative processes, and we look forward to leveraging these as the recovery unfolds.”

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