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Givaudan reports higher earnings, confirms guidance
4:33 AM MDT | July 17, 2014 | Natasha Alperowicz
Givaudan Group (Geneva), flavors and fragrances major, today announced its results for the first six months of 2014. Ebitda rose 10.5% to 562 million Swiss francs ($626.1 million) on 4.5% higher sales at SF2.2 billion. Ebitda margin advanced to 25.6% from 22.9% in the year-earlier period. Net income was 12.6% higher at SF305 million. Developing markets accounted for 45% of sales, up 9.2% on a like-for-like basis. The fragrance division recorded sales of SF1.03 billion, an increase of 4.8% on a like-for-like basis but a decline of 1.2% in Swiss francs...
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