Givaudan Posts Upbeat 2011 Net Profit

Givaudan SA GVDNY posted a 26% drop in its 2011 net profit. For 2011, Givaudan will pay a dividend of CHF22.00 per share. Givaudan's net profit dropped to CHF252 million, from CHF340 million in 2011, beating analysts' estimates of CHF239 million. Its sales dropped 7.6% to CHF3.92 billion, from CHF4.23 billion, versus analysts' estimates of CHF3.89 billion. Givaudan shares closed at $19.00 yesterday.