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Rising Costs, Unfavorable Currency Exchange Rates Lower Givaudan's Results

7:51 AM MDT | August 4, 2011 | Kerri Walsh

 Givaudan reported first-half net income down 40%, to SF120 million ($155 million) and operating income excluding costs down 39%, to SF231 million. Sales fell 9%, to SF2 billion. Rising raw material costs and the strengthening of the Swiss franc against all major currencies led to the decline in sales and profits, Givaudan says. Fragrance and flavors sales each fell 9%, to SF927 million and SF1.1 billion, respectively. sales in the fragrances division ere greatest in LA, but that growth however, was not enough to offset a drop in demand from North America...

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