PARIS — Givaudan’s first-quarter 2012 sales increased 4.7 percent to 1.06 billion Swiss francs, or $1.28 billion.
On a constant-currency basis, revenues at the Vernier, Switzerland-based fragrance and flavor supplier gained 8.4 percent in the three months ended March 31.
Givaudan’s fragrance division’s sales grew 6.8 percent to 499.1 million Swiss francs, or $603.1 million. On a constant-currency basis, revenues were up 10.7 percent.
Sales at the company’s flavor division rose 3 percent to 561.2 million euros, or $678.1 million. On a constant-currency basis, revenues increased 6.4 percent.
Dollar figures are converted at average exchange rates for the period in question.
Givaudan reiterated its mid-term objectives of growing organically between 4.5 percent and 5.5 percent annually, assuming market growth of 2 percent to 3 percent, and continuing market-share gains during the next five years.