Givaudan: share price falls after unsurprising figures
(CercleFinance.com) - Givaudan's shares were one of the biggest fallers on the SMI index in Zurich on Tuesday after the Swiss company reported unsurprising organic growth.
At 10.50am, the world's leading flavour and fragrance company's share was down 1.3%, underperforming the SMI index (-0.3%).
Group sales reached almost 5.1 billion Swiss francs in the first nine months of the year, up 7.7% LFL.
This figure is in line with analysts' estimates, who were expecting organic growth of between 7% and 8% over the period.
In Swiss Francs, sales increased by 5.8%, driven by the strength of the fragrance and beauty business.
While it did not provide targets for FY 2021, the group confirmed its medium-term outlook, still expecting average organic growth of 4% to 5% per annum by 2025.
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At 10.50am, the world's leading flavour and fragrance company's share was down 1.3%, underperforming the SMI index (-0.3%).
Group sales reached almost 5.1 billion Swiss francs in the first nine months of the year, up 7.7% LFL.
This figure is in line with analysts' estimates, who were expecting organic growth of between 7% and 8% over the period.
In Swiss Francs, sales increased by 5.8%, driven by the strength of the fragrance and beauty business.
While it did not provide targets for FY 2021, the group confirmed its medium-term outlook, still expecting average organic growth of 4% to 5% per annum by 2025.
Copyright (c) 2021 CercleFinance.com. All rights reserved.