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Markets :: Specialty Chemicals :: Flavors and fragrances
Givaudan's Profits Rise on Cost-Cutting Measures
4:59 AM MST | February 17, 2010 | Kerri Walsh
Givaudan reported increased net income for full-year 2009 helped by cost cutting measures and integration savings from the acquisition of Quest International in March 2007. Sales fell on lower volumes and inventory reductions, Givaudan says. Net income jumped 79%, to SF199 million ($185 million), on sales down 3%, to SF3.9 billion. Operating income excluding SF65 million in integration costs rose 8%, to SF 525 million. Gross profit margin declined to 45%, from 45.6% because of "strong increases in raw material, energy, and transportation...
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