Givaudan said that sales from its Flavour Division accounted 2.08 billion CHF Swiss francs ($3.01 billion) of its total sales of 3.9 billion CHF ($4.2 billion) – a growth of 5.7% in local currencies.
The Swiss company said sales in developing markets increased at near double digit growth over 2010 while mature markets delivered above average growth despite the unfavourable economic conditions.
Gilles Andrier, CEO, Givaudan commented that the business “achieved a strong sales momentum in a tough environment and a significant profit improvement in the second half of the year.”
“We are well on track for 2012 and to deliver on our mid-term targets,” he said,