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Givaudan confirms outlook after net profit beats poll
January 30, 2014 / 6:06 AM / 4 years ago

Givaudan confirms outlook after net profit beats poll

ZURICH, Jan 30 (Reuters) - Fragrance and flavour maker Givaudan said it wants to continue to gain market share after its full-year net profit rose 19.5 percent, beating forecasts, helped by an improved operating performance and a lower tax rate.

“Mid-term, the overall objective is to grow organically between 4.5 percent and 5.5 percent per annum, assuming a market growth of 2-3 percent and continue on the path of market share gains,” the maker of flavours for beverages and snacks and fragrances for perfumes and washing powder said in a statement on Thursday.

Sales rose 5.5 percent on a like-for-like basis to 4.369 billion Swiss francs ($4.86 billion) in 2013, in line with forecasts in a Reuters poll. Net profit climbed to 490 million francs, versus a forecast of 470 million francs.

$1 = 0.8987 Swiss francs Reporting by Silke Koltrowitz

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