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Givaudan S&E

This article was originally published in The Rose Sheet

Executive Summary

Fine fragrance sales increased strong double-digits in the first half of the year, fueled by new wins and successes in the specialty retail segment and direct selling channels, Givaudan reports in six-month results issued Aug. 14. Consumer products sales advanced high single-digits on growth in all regions, according to the firm. Fragrance division sales, however, fell 3.3% to $412.2 mil. (CHF1=$.73) on a reported basis, while in local currencies, division sales increased 5.5%. Net sales dropped 7.4% to $1 bil. on a pro forma basis, assuming the acquisition of Nestle's flavor activities had taken place on Jan. 1, 2001, but were up 1.1% on a reported basis. Net profit for the six months fell 23.1% to $95.2 mil. on a pro forma basis...

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