05 February 2013 06:41 [Source: ICIS news]
SINGAPORE (ICIS)--Givaudan posted a 63.1% year-on-year surge in net profit to Swiss francs (Swfr) 411m ($452m) in 2012, boosted by improved operating performance, lower financial expenses and a lower income tax rate, the Switzerland-based firm said on Tuesday.
The company’s overall sales rose by 8.74% year on year to Swfr4.26bn, while its earnings before interest, tax, depreciation and amortisation (EBITDA) was up by 14.8% at Swf870m.
“Developing markets account for an increasing part of our sales, and in 2012 they grew by 13.2%,” said Jurg Witmer, the chairman of Givaudan.
Sales in developing markets “accelerated” last year and now account for 44% of the company’s turnover, he said.
“Mid-term, the overall objective is to grow organically between 4.5% and 5.5% per annum, assuming a market growth of 2-3%, and to continue on the path of market share gains,” it said.
The company did not disclose its financial results for the fourth quarter.
($1 = Swfr0.91)
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