VERNIER (dpa-AFX) - Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, reported that its first-quarter sales were 1.62 billion Swiss francs, an increase of 5.4% on a like-for-like basis and 6.1% in Swiss francs.
Fragrance division sales were 745 million francs, an increase of 6.3% on a like-for-like basis and an increase of 9.9% in Swiss francs.
Flavour division sales were 874 million francs, an increase of 4.6% on a like-for-like basis and an increase of 3.1% in Swiss francs.
The company said it aims to outpace the market with 4-5% sales growth and a free cash flow of 12-17% of sales, both measured as an average over the five-year period of strategy cycle. It plans to maintain its current dividend practice as part of the ambition.
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