PARIS — Flavors-and-fragrance supplier Givaudan posted net profits of 412 million Swiss francs, or $329 million at average yearly exchange, up 1.5 percent in 2006 over 2005.
The profits came on the back of sales that rose 4.7 percent (or 3.5 percent in local currencies) to 2.91 billion Swiss francs, or $2.32 billion, in the period.
As reported, Varnier, Switzerland-based Givaudan revealed its intent to acquire Quest International late last year from Imperial Chemical Industries plc in a deal valued at 1.2 billion British pounds, or $2.21 billion. If given the green light by the European authorities to clinch the deal, as expected later this week, Givaudan will become the number-one fragrance-and-flavors firm worldwide.
In 2006, Givaudan’s operating profits hit 513 Swiss francs, or $409.7 million, up 1.9 percent over the prior year.
For complete coverage see tomorrow's issue of WWD.
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