Soaring Frutarom profitsThis article was originally published in Foodnews
FLAVOURS and ingredients giant Frutarom has announced record results for the second quarter. Sales leaped 45% to US$132.6 million, and operating profit surged 110% to US$17.9 million. Net income for the period doubled to reach a record US$12.0 million, compared with US$5.9 million in the same quarter last year. Frutarom made a series of acquisitions and mergers last year (FOODNEWS passim) , which have clearly made their mark on overall sales and profit, though the company is keen to stress that strong organic growth is seen in its flavours division as well as sales of its unique ingredients, mainly natural, in its fine ingredients unit.