Fragrance and flavour maker Givaudan said sales rose 3.9 percent in the first quarter, short of markets' estimates, as sales for its fine fragrances and fragrance ingredients fell.
Sales increased to 1.089 billion Swiss francs, the maker of food flavours and fragrances for perfume and soap said in a statement on Tuesday.
The group confirmed its mid-term guidance of 4.5-5.5 percent growth in underlying annual sales.
The Geneva-based group, among the first of peers including Symrise and International Flavors & Fragrances (IFF) to report the quarter, missed estimates from analysts polled by Reuters, which averaged 1.112 billion Swiss francs.
