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Givaudan has reported first-half 2008 results of CHF 2,095 million, a gain of 13.5%, or 3% on a pro forma basis. Gross profit declined from 47.6% to 46.5%.
The fragrance division sales rose 14.7% to CHF 962 million, boosted by strength in consumer products and a double-digit gain in specialty ingredient sales. Fine fragrances declined, but were aided by new launches in the second quarter.
The flavor division's sales grew by 12.6% to CHF 1,133 million, driven by new wins and good results in North America and Europe. Latin America also reported strong numbers, while Asia-Pacific grew in the single digits.