By  on August 4, 2011

PARIS — Givaudan’s first-half net profits were 120 million Swiss francs, or $132.7 million, down 40 percent year-over-year, due to raw material cost increases.

Sales at the Vernier, Switzerland-based flavors and fragrances supplier declined 8.8 percent to 2 billion Swiss francs, or $2.21 billion, in the six months ended June 30. In local currencies, revenues gained 4.3 percent.

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