Givaudan Reports Strong Results For 2013
News: Swiss flavouring and fragrance firm Givaudan reported a better than expected increase in earnings of 20% for the 12 months ended December 31. The rise in earnings was backed by a fall in prices of raw materials, which helped the company in reducing its expenses. Givaudan's net profit rose to CHF490mn (US$547mn) in the reported period, from CHF410mn (US$456.12mn) in 2012, while revenues were up 2.6% to CHF4.37bn (US$4.86bn), compared with CHF4.26bn (US$4.73bn) the year prior. The company targets annual growth of 4.5-5.5% to increase sales.