There is further evidence that the market for chocolate is not as recession proof as traditionally thought as Barry Callebaut sales in Europe saw a marked drop over Q1.
Givaudan has reported strong sales for the first quarter ending
March 31 with results significantly boosted by the continuing
integration of Quest International.
Givaudan's flavours division reports sales growth across all
geographic markets bar North America, with Q1 results including
revenues from Quest since the acquisition was finalised in early
March.
Givaudan's full year results for 2006 indicate that the flavour and
fragrance giant is profiting from the streamlining of its commodity
ingredient operations.
Givaudan claims to have continued its good sales growth momentum
despite strong comparables in the third quarter and the ongoing
streamlining of commodity ingredients.
Swiss flavour giant Givaudan has reported growth in the first of
2006, despite the ongoing streamlining of commodity ingredients in
both flavour and fragrance divisions.
The announcement that Mauricio Graber will take over as head of
Givaudan's flavours division comes after the firm reported modest
flavour results for 2005.
Contributing the biggest revenue stream to Givaudan, the flavours
unit posted sales of CHF 1.6 billion (€1 billion) sales in 2004,
representing stagnant growth on a like-for-like basis in Swiss
francs.
