Profit at Givaudan comes with a fine fragrance
The Swiss flavours and fragrances group Givaudan has announced a profit increase of 79 per cent for 2009 of SFr199 million ($185.5 million).
Givaudan, which is based near Geneva, said this was helped by returning consumer confidence. The result was broadly in line with analysts’ forecasts.
Group sales totalled SFr3.96 billion, with revenues of SFr1.8 billion in the fragrances division and SFr2.14 billion in its flavours business (-3.1 per cent and -3.9 per cent respectively compared with 2008).
“Givaudan’s overall performance in 2009, against the backdrop of a difficult business environment, is a very satisfactory achievement,” commented CEO Gilles Andrier.
“It is also a strong sign of our unique capability to understand and deliver innovation.”
The board is to recommend a share dividend of SFr20.60, which represents an increase of three per cent over 2008.
Givaudan, which makes oils for perfumes and ingredients for soaps, confectionery and soft drinks, said it was confident “to further outgrow the underlying market” in 2010.
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