PARIS – Givaudan’s full-year 2010 net profits rose 70.9 percent to 340 million Swiss francs, or $326.9 million.
The Vernier, Switzerland-based flavors and fragrances supplier registered sales of 4.24 billion Swiss francs, or $4.08 billion, up 7.1 percent on-year. In local currencies, revenues increased 8.9 percent.
Dollar figures are converted at average exchange rates for the corresponding period.
Givaudan’s fragrance division’s sales climbed 9 percent to 1.99 billion Swiss francs, or $1.91 billion. In local currencies, the division’s revenues gained 10.5 percent.
For the mid-term, assuming the market is up between 2 percent and 3 percent, Givaudan’s goal is to grow organically between 4.5 percent and 5.5 percent annually and to continue gaining market share during the next five years.