Givaudan SA, the Swiss maker of flavors and fragrances, reported improved first-quarter sales as it continued to pass on the higher cost of raw materials including vanilla and citrus oils with increased pricing.
Sales gained 4.7% to 1.06 billion Swiss francs ($1.16 billion), the Geneva-based company said in a statement today. Revenue growth was in line with Givaudan’s target of expanding by 4.5 percent to 5.5 percent each year. The stock gained as as much as 4.2 percent, the most in more than four months (Source: Bloomberg)
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