Fragrance and flavour maker Givaudan said it was on track to deliver on its 2020 guidance after net profit rose 2.3% in the first half of 2019, with recent acquisitions boosting growth across its product segments.
The flavoring and fragrance producer saw a 39% increase in net sales in the first quarter of 2019, thanks to the contribution of its recently acquired Frutarom business and strong progress in its fine fragrance segment.
Fragrance and flavour maker Givaudan reported an 9.8 percent hike in sales during the third quarter of 2018 on Tuesday, slightly better than analysts had expected, led by strong performance in its fragrances division.
International Flavors & Fragrances Inc agreed to buy Israeli flavours and ingredients maker Frutarom for $7.1 billion in cash and stock on Monday, vying for the industry's top spot with market leader Givaudan.
Swiss fragrance and flavours company Givaudan has begun recycling Haitian vetiver roots now used to make oil for fragrances to produce a new cosmetic substance it said can reduce wrinkles and help scents linger longer.
With more and more fashion houses going fur-free, San Francisco banning fur sales in the city and British MPs considering outlawing all imports of pelts after Brexit, the signs do not seem good for the fur sector.