UPDATE 1-Givaudan H1 net profit up 13 pct, confirms outlook

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ZURICH Aug 5 (Reuters) - Swiss flavours and fragrances maker Givaudan (GIVN.VX) posted a 13 percent rise in first-half net profit to 94 million Swiss francs ($89.78 million), boosted by its acquisition of Quest, but narrowly missed forecasts.

Givaudan, which last year bought Quest International from ICI for $2.25-billion, said on Tuesday net profit for the period fell 33 percent when comparative figures were adjusted to include the acquisition from Jan 1, 2007.

Givaudan, which makes ingredients for soaps, confectionery, soft drinks and designer perfumes, said it expected to increase sales in line with the market in 2008, repeating its previous forecast.

The group also said it was confident of achieving the savings target of 200 million francs by 2010 and is well positioned to grow above the market beginning in 2009 and to reach pre-acquisition margin levels by 2010.

The Geneva-based company had been expected to post a net profit of 101 million francs, according to a Reuters poll of 10 analysts.

Shares in Givaudan, which makes ingredients for designer perfumes like Calvin Klein and Burberry, trade at 17.7 times forecast 2009 earnings, at a premium to U.S. rival International Flavours and Fragrances Inc (IFF.N), which has a multiple of 11.7. (Reporting by Katie Reid; Editing by David Cowell)