×
1 988
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Halifax, Harveys - 15 Hours - Part-Time, Permanent
Permanent · Halifax
ESTÉE LAUDER
Aveda - Account Manager - House of Fraser-White City, London - 30 Hours - Full Time, Permanent
Permanent · London
FOREO
E-Key Account Manager
Permanent · London
FOREO
Marketing Manager
Permanent · London
VF INTERNATIONAL
Warehouse Trainer And Instructor
Permanent · COALVILLE
OUTSIDE THE BOX RECRUITMENT
Account Manager Kidswear
Permanent · LONDON
THE KOOPLES
Regional Manager London
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Digital Marketing And e Commerce Manager
Permanent · LONDON
ESTÉE LAUDER
Estee Lauder - Consumer Campaign Email Marketing Executive
Permanent · London
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
NEW BALANCE
Marketing Director, Emea
Permanent · Warrington
EASTPAK
Credit Controller - French Speaking - Eastpak
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - German Speaking - The North Face
Permanent · CALVERTON
CONFIDENTIAL
Regional Manager London
Permanent · LONDON
ESTÉE LAUDER
la Mer - Business Manager - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
VF INTERNATIONAL
dc Inventory Control Supervisor
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, Enniskillen - 10 Hours - Part Time, Permanent
Permanent · Enniskillen
SHISEIDO
Account Manager Bareminerals - House of Fraser, Cheltenham
Permanent · Cheltenham
ESTÉE LAUDER
Clinique - Consultant - Browns, Beverley - 12 Hours - Part-Time, Permanent
Permanent · Beverley
ESTÉE LAUDER
Clinique - Consultant - Boots, Metro Gateshead - 16 Hours - Part Time, Permanent
Permanent · Gateshead
ESTÉE LAUDER
Clinique - Consultant - Boots, Derby - 10 Hours - Part-Time - Permanent
Permanent · Derby
ALTRA
Sales Representative
Permanent · LONDON
Advertisements
By
Reuters API
Published
Jan 24, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Givaudan expects 4-5% sales growth this year after strong 2019

By
Reuters API
Published
Jan 24, 2020

Fragrance and flavor maker Givaudan said it was confident of delivering like-for-like sales growth of between 4% and 5% this year, within its mid-term target range, implying a slowdown from 5.8% growth last year that benefited from price increases.


Photo: Shutterstock


“We have a five-year strategy and we’re very confident we’ll deliver on that, so 4 to 5% on top line,” Chief Financial Officer Tom Hallam told Reuters by phone on Friday.

“We will not have any new price increases, but we continue to see good demand in high-growth markets. Confidence in the U.S. is good and a lot of the questions we had in Europe in 2019, like Brexit, are behind us,” Hallam said.

Givaudan, which develops tastes and scents for customers in the consumer and luxury goods industry, has been benefiting from its focus on natural ingredients and health and wellness products, and from recent trends requiring new flavors like plant-based meat alternatives.

But the company’s business with its big global customers has slowed and local and regional customers now represent more than half of its sales.

“Large customers continue to struggle to eke out growth in some of these big markets (like North America),” Hallam said.

Shares in Givaudan, which hit a record on Wednesday after rising more than a third last year, were down 2.1% at 0813 GMT, lagging a 0.4% increase in the Swiss blue-chip index.

Analysts pointed to slowing growth in the final quarter but welcomed the margin improvement in the second half and cash development.

Net profit rose 6.0% to 702 million Swiss francs ($725.6 million) in 2019, while organic growth, excluding acquisitions and currency swings, accelerated to 5.8% from 5.6% a year ago.

Growth slowed in the final quarter as the impact from price hikes faded, Hallam said. Raw material prices should remain at current levels in 2020, after two years of strong increases.

The company, which competes with Germany’s Symrise and U.S.-based International Flavors & Fragrances has spent about 3.6 billion francs on acquisitions since 2014 and could continue to do bolt-on acquisitions, Hallam said.

Sales in the fragrance division rose 7.3%, boosted by strong demand for fragrances for consumer products in the Americas, while sales in the flavors unit were up 4.5%, dragged down by a weak performance in North America.

The company said it would raise its dividend 3.3% to 62 francs per share for 2019 and said it wanted to maintain its current dividend practice.

© Thomson Reuters 2021 All rights reserved.