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Givaudan posts marked decline in net profit

The world's largest flavours and fragrances group, Givaudan, has reported its net profit for 2007 fell to SFr94 million ($85.8 million) from SFr412 million in 2006.

The Swiss company, which is based near Geneva, said on Tuesday it had missed forecasts because of its acquisitions of Quest International but added it was confident of sales growth in 2008.

Givaudan expected 2007 to be a transition year after its $2.25 billion (SFr2.47 billion) purchase of Quest International from ICI.

Full-year sales rose 42 per cent to SFr4.132 billion, just below expectations and the company proposed a dividend of SFr19.50 for 2007.

Givaudan makes scents for fine fragrances and consumer products including ingredients for designer perfumes such as Calvin Klein and Burberry.

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR