Givaudan scents growth markets in developing world
A global leader in the fragrance and flavour industry, Givaudan of Geneva, increased net profits by 14 per cent last year to SFr265 million ($159.64 million). The company said it intended to focus on improving its presence in emerging markets.
Sales increased by six per cent over 1999 to SFr2.4 billion.
The company said in a statement on Tuesday that the gross profit margin rose by 0.3 per cent to 48 per cent, mainly due to further efficiency improvements.
The board of directors is proposing a dividend of SFr6.5 per share to the annual shareholders’ meeting.
Givaudan said that barring extraordinary events, it expected a “good overall result” in 2001.
The company said it was continuing to focus on becoming the undisputed leader in the fragrance and flavour industry.
It added that marketing, development and distribution costs increased by 11 per cent to SFr538 million as the company strengthened its position to serve the growing customer base in emerging markets.
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