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Givaudan Reports Decline in Profit, Eyes Acqusitions

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By: TOM BRANNA

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Givaudan AG, Geneva, Swizterland, reported an unexpected decline in full-year net profit, but said it will raise its dividend and added it’s optimistic about the current year. The Swiss fragrances and flavors company reported a 6.6% fall in 2002 net profit to $191 million from 2001’s $204 million. The result was below market forecasts of around $222 million.Givaudan said the decrease was due to costs tied to impairment charges and the integration of acquired companies, including Nest...

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