* Q3 sales 1.105 bln vs 1.078 bln Sfr in Reuters poll
* Reiterates mid-term target sales growth of up to 5.5 pct
(Adds detailed guidance, divisions)
ZURICH, Oct 9 (Reuters) - Swiss fragrance and flavour makerGivaudan confirmed its mid-term goals on Tuesday asthird-quarter sales came in at the high end of expectations,helped by a positive currency impact and growth in emergingmarkets.
The Geneva-based company, which makes fragrances for Diorand Prada perfumes, expects to outgrow markets over the nextfive years. Givaudan reiterated a mid-term target for salesgrowth of up to 5.5 percent, against expectations for broadermarket growth of 2 to 3 percent, and an industry leadingoperating profit margin.
For the third quarter, the group reported sales of 1.105billion Swiss francs ($1.18 billion), compared to 966 million ayear ago, driven by strong growth in Latin America and Asia.Analysts had on average forecast sales of 1.078 billion Swissfrancs ($1.16 billion). Givaudan did not provide any profitfigures.
The company, which competes with German Symrise ,American International Flavors & Fragrances and unlistedSwiss Firmenich, also confirmed its goal to return over 60percent of its free cash flow to shareholders as soon as itstarget for a leverage ratio of 25 percent has been met.
Sales for the first nine months of the year rose 8.8 percentto 3.231 billion Swiss francs, with double digit growth inconsumer products more than offsetting weaker sales of fragranceingredients mainly in Europe and North America.
($1 = 0.9284 Swiss francs)
(Reporting by Andrew Thompson; Editing by Mike Nesbit)
((andrew.thompson@thomsonreuters.com)(Tel. +41 58 3067448)(Reuters Messaging:andrew.thompson.thomsonreuters.com@reuters.net))
Keywords: GIVAUDAN/