PARIS — Swiss flavors and fragrance supplier Givaudan registered first-half 2008 net profits of 94 million Swiss francs, or $89.6 million at average exchange, up 13.3 percent versus first-half 2007.
For the period ended June 30, the Vernier, Switzerland-based company posted sales of 2.1 billion Swiss francs, or $2 billion, up 4.5 percent, or 13.5 percent in local currencies. On a pro forma basis, assuming Givaudan had acquired Quest International Inc. in January 2007 rather than in March 2007, revenues increased 3 percent in local currencies and excluding ongoing portfolio streamlining. Including that effect, pro forma sales declined 6.5 percent and rose 1.7 percent in local currencies.
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