This excerpt taken from the ICI 6-K filed Aug 11, 2005.
The following commentaries on Quests two businesses refer to performance measured on a comparable basis.
Fragrance sales were 9% ahead for the half year, with strong growth in the Fabrics and Personal Care sectors. Regionally, growth in Europe and
Latin America more than offset lower sales in North America. Although gross margin percentages were below last year, reflecting higher raw material costs, with lower costs below gross margin, trading profit was substantially ahead.
Flavour sales were 1% higher than last year, with good growth in Asia and Latin America offsetting lower sales in Europe and North America, where sales prices were lower due to declining vanilla costs. Improved product mix in the second quarter contributed to gross margin percentages being ahead of last year, and trading profit was significantly ahead of the first half of 2004.
Including the effects from foreign exchange translation, sales were 3% ahead of last year and trading profit was 32% higher than 2004, both on an as reported basis.
As reported sales were 5% above 2004, with the impact of business divestments accounting for the difference from the comparable performance.