Developing markets in Asia bring wins for Givaudan

Givaudan's group sales for the first six months of the year totaled CHF 2,199 million ($2,137 million), indicating an increase of 10.5% in local currencies and 10.2% in Swiss francs compared to the previous year.

The strong performance from the first quarter continued into the second quarter.

The company said developing markets sales continued its strong 2009 growth momentum and reached 41% of group sales.

Sales in the fragrance division sales were CHF 1,017 million, an increase of 13.3% in local currencies and 13.1% in Swiss francs versus the same period in 2009.

The flavor division sales were CHF 1,182 million, an increase of 8.1% in local currencies and 7.8% in Swiss francs compared to the previous year.

In an improved economic environment, the flavor division grew across all four regions.

Strong new wins in the sweet goods, beverage and snacks segments contributed to the increase.

Strong high double-digit gains were reported in all developing markets, continuing the strong growth trends from the first quarter.

The mature markets delivered an accelerated growth over the first quarter, driven by volume gains and new wins particularly in North America.

The division's growth strategies continued to have a positive impact on performance as demonstrated by the double-digit growth in developing markets, health and wellness taste solutions and with key targeted accounts.

Sales in Asia Pacific increased 10.6% in local currencies versus the first half of 2009.

The developing markets of China, India and Thailand recorded strong growth stemming from significant beverage, snack and sweet goods wins.

The mature markets growth for the first six months was driven by improved results in Japan, Southeast Asia and Korea.

All major segments contributed to this result.