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Givaudan profit misses consensus by 19.7% in H1

Givaudan SA said its first-half normalized net income came to CHF30.37 per share, compared with the S&P Capital IQ consensus estimate of CHF37.80 per share.

EPS increased 12.5% year over year from CHF26.98.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF281.9 million, a gain of 12.5% from CHF250.6 million in the prior-year period.

Total revenue climbed 6.4% year over year to CHF2.48 billion from CHF2.33 billion, and total operating expenses climbed 5.5% from the prior-year period to CHF2.00 billion from CHF1.90 billion.

Reported net income increased on an annual basis to CHF384.0 million, or CHF41.37 per share, from CHF368.0 million, or CHF39.62 per share.