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Givaudan

This article was originally published in The Rose Sheet

Executive Summary

Specialty fragrance ingredient sales grew double-digits in the first half, fragrance and flavors manufacturer reports Aug. 10. However, total fragrance division sales were flat in local currency and declined 2% in Swiss Francs to $439 mil. (CHF1=$.79). Excluding effects of discontinued ingredients, revenues would have increased 6% in local currency, or 4% in Swiss Francs, firm points out. Operating profit in the division was up 2% to $73 mil. Group sales increased 3.2% in local currencies and 1.5% in Swiss Francs to $1.1 bil. Net income in the half grew 32% to $174.4 mil. and operating profit advanced 12% to $224.3 mil. on a comparable basis...
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