LONDON — Givaudan’s net profits for the first half of 2010 increased 108 percent to 200 million Swiss francs, or $185 million at average exchange for the period.
The Swiss flavors and fragrances firm posted revenues of 2.2 billion Swiss francs, or $2.03 billion, up 10.2 percent. In local currencies, sales were up 10.5 percent.
“We are on track with our targets,” stated Gilles Andrier, the firm’s chief executive officer.
The company’s fragrance division reported sales of 1.02 billion Swiss francs, or $943.5 million, an upswing of 13.1 percent in Swiss francs and 13.3 percent on a local currency basis.
You May Also Like
“Fine fragrance grew 24.2 percent in local currencies, driven by a number of new wins with key accounts, the significant success of some recent launches, customers returning to order patterns seen before 2009, and some degree of restocking,” the company said.
Sales of fragrance ingredients grew 15.8 percent in local currencies in the half.
“For the full year 2010, Givaudan is confident to further outgrow the underlying market based on its growing pipeline of briefs and new wins,” the company stated. “Despite the strong comparables of the second half year of 2009, the company expects sales to grow above 5 percent in local currencies for the full year.”