Givaudan profit surges by 68% in H1 2012

Global flavor and fragrances company Givaudan has reported a 68% a increase in profit in the first half of 2012 to CHF201m ($207.32m), up from CHF120m ($123.77m) from the same half in 2011.

The firm’s group sales for the first half increased to CHF2.12bn ($2.19bn), compared to CHF2bn ($2.06bn) in the corresponding period for the previous year.

Givaudan ‘s comparable earnings before interest, taxes, depreciation, and amortization (EDBITA) rose to CHF428m ($441.46m), compared to CHF382m ($394.01m) in the first half 2011.

The firm posted a 27.7% increase in operating income in the first half 2012 to CHF295m ($304.28m), an increase from CHF231m ($238.26m) for the same period in the earlier year.

Fragrance division posted sales of CHF 994m ($1.02bn), an increase of 8.3%, as against CHF 927m ($956.16m) ) in the corresponding period for the previous year.

The growth was primarily owing to a strong performance in the Consumer Products business unit, led by the developing markets of Latin America and Asia Pacific, and a moderate growth in the Fine Fragrance business.

Flavour division sales reported CHF 1.13bn ($1.16bn), a rise in 5.6%, compared to CHF1.07bn ($1.11bn) for the same half in 2011.

Givaudan is a Switzerland-based flavorings and fragrances manufacturer, whose portfolio includes fine fragrances, consumer products, fragrance ingredients, cosmetic actives and innovative naturals.