Givaudan Continues to Increase Prices After Posting Lower 3Q Sales
By Andrea Figueras
Givaudan reported a decline in sales for the third quarter in what it called a challenging environment in some of its markets and segments, and said it continues to implement price increases to offset higher input costs.
The Swiss flavor-and-fragrance company achieved sales of 1.7 billion Swiss francs ($1.88 billion) compared with CHF1.81 billion for the prior-year period, it said on Thursday.
The largest contributor to group sales during the quarter was the taste-and-wellbeing segment, with CHF891 million, although the figure was lower than in the previous year.
The company maintained its midterm targets, which are part of a five-year strategic cycle that ends in 2025, and aims to reach organic sales growth between 4% and 5% on a like-for-like basis and free cash flow of at least 12% on average.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
October 12, 2023 01:36 ET (05:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks