Dec 11 (Reuters) – Shares in Givaudan fell sharply on Thursday after traders cited disappointing comments on sales guidance during an analyst call ahead of next month’s full-year results.
By 1051 GMT, the stock was down more than 6% after earlier rising 0.4%.
One trader said the fragrance maker did not reaffirm its full-year sales growth guidance of 5.5%.
“Givaudan hosted a group Q4 update… Market conditions more challenging versus the 5.5% OSG (Organic Sales Growth) guide provided in August,” Jefferies wrote in a note.
Givaudan was not immediately available for comment.
(Reporting by Danilo Masoni, Ozan Ergenay and Emanuele Berro; Editing by Louise Heavens)
