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The recovery of the fragrance sector helped Givaudan’s net profit to develop positively for the first half of 2021.
Flavor and fragrance company Givaudan this morning confirmed its medium-term targets, driven by a strong recovery in the parts of the business so far affected by the global pandemic.
Givaudan has benefited from strong demand for flavors for beverages and food consumed at home during the various confinements. In addition, since the reopening of the shops, the perfumery and cosmetics businesses are recovering.
The Swiss manufacturer’s net profit increased by 16.3% to 481 million Swiss francs, or $524.36 million. It exceeded Refinitiv‘s average estimate of 457 million francs. Like-for-like sales, meanwhile, were up 7.9%.
“The foodservice segment was still impacted by the COVID-19 pandemic, but experienced a strong recovery in the second quarter as restrictions on out-of-home food and beverage consumption began to be lifted in some markets,” Givaudan said in a statement.
The group’s flavors sales increased by 6.1%, and on the fragrance and beauty side, they also increased, and by 10.1%.
Read also > GIVAUDAN TAKES 25% STAKE IN B.KOLORMAKEUP & SKINCARE
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The recovery of the fragrance sector helped Givaudan’s net profit to develop positively for the first half of 2021.
Flavor and fragrance company Givaudan this morning confirmed its medium-term targets, driven by a strong recovery in the parts of the business so far affected by the global pandemic.
Givaudan has benefited from strong demand for flavors for beverages and food consumed at home during the various confinements. In addition, since the reopening of the shops, the perfumery and cosmetics businesses are recovering.
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The recovery of the fragrance sector helped Givaudan’s net profit to develop positively for the first half of 2021.
Flavor and fragrance company Givaudan this morning confirmed its medium-term targets, driven by a strong recovery in the parts of the business so far affected by the global pandemic.
Givaudan has benefited from strong demand for flavors for beverages and food consumed at home during the various confinements. In addition, since the reopening of the shops, the perfumery and cosmetics businesses are recovering.
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