Salem Radio Network News Saturday, July 31, 2021

Business

Givaudan confirms targets as first-half net profit beats forecasts

ZURICH (Reuters) – Swiss flavour and fragrance maker Givaudan confirmed its mid-term targets on Thursday after reporting its net profit and sales grew in the first half of 2021, helped by a strong recovery in the parts of the business hit by the COVID-19 pandemic last year.

Net profit rose 16.3% to 481 million Swiss francs ($524.36 million), beating a mean Refinitiv estimate of 457 million francs, while like-for-like sales grew 7.9%, Givaudan said in a statement.

($1 = 0.9173 Swiss francs)

(Reporting by Silke Koltrowitz, editing by John Revill)

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