By John Revill
ZURICH--Givaudan S.A. (GIVN.VX) on Thursday posted a
better-than-expected increase of nearly 20% in full-year earnings
as lower prices for raw materials used to make perfumes and food
flavorings helped the company reduce its expenses.
Givaudan, based near Geneva, reiterated its guidance of
increasing sales by between 4.5% and 5.5% per year, growth it says
will help it grab market share. The company supplies flavorings to
some of the world's biggest food companies, including Nestle SA
(NESN.VX), Unilever NV (UN) and Kraft Foods Group (KRFT). It also
provides perfumes for Dior and Prada SpA.
Givaudan said net profit for the 12 months ended Dec. 31. rose
to 490 million Swiss francs ($547 million) from 410 million Swiss
francs a year earlier. Analysts had expected net profit of 478
million Swiss francs. Revenue rose 2.6% to 4.37 billion Swiss
francs from 4.26 billion Swiss francs in 2012, lower than analyst
forecasts of 4.39 billion Swiss francs.
Write to John Revill at john.revill@wsj.com
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