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Jan. 24, 2020, 2:12 a.m. EST

Givaudan 2019 net profit rises

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By Cristina Roca

Givaudan SA (GIVN.EB) said Friday that its earnings grew in 2019, and it raised its dividend.

Net profit at the flavor and fragrance maker rose to 702 million Swiss francs ($724.6 million) from CHF663 million in 2018.

Sales rose to CHF6.2 billion from CHF5.53 billion the year previous, helped by growth across all product segments and geographies, the Swiss company said.

Givaudan said it continues to raise its prices to make up for increasing input costs.

The company will propose a cash dividend of CHF62 a share, up 3.3% from 2018, it said.

Givaudan said it is on track to deliver its 2020 guidance. As part of its five-year strategic cycle ending in 2020, Givaudan aims to outpace the market with 4%-5% sales growth and a free cash flow of 12%-17% of sales--both measured as an average over the five-year cycle.

As part of this strategy, Givaudan also seeks to make targeted acquisitions, it said.

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