Swiss flavours and fragrances maker Givaudan posted an increase in first-half net profit today (4 August) and said its business had proven “resilient” in a difficult economic environment.
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Net profit for the period to 30 June totalled CHF95m (US$89m) from CHF94m in the comparable period of the previous year.
Sales however, for the first six months of the year totalled CHF1.99bn, a decrease of 0.9% in local currencies and 4.7% in Swiss francs.
Excluding the impact of a divested business in Givaudan’s flavours division, sales decreased by 0.6% in local currencies versus the same period in 2008.
Operating income for the period increased slightly to reach CHF245m from CHF238m last year.
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By GlobalDataGivaudan’s flavour division recorded sales of CHF1.09bn, an increase of 0.2% in local currencies and a decrease of 3.2% in Swiss francs.
Excluding the impact of the divested St Louis business, sales in the first half year
2009 increased by 0.8% in local currencies versus the same period in 2008.
