ISRAEL: Flavours demand buoys Frutarom
Global flavours and ingredients group Frutarom has seen a robust second-quarter performance drive rising profits during the first half of the year.
The Israel-based group posted a 6% rise in operating profit to US$20.1m on the back of a 20% jump in revenue to $172.2m. Second-quarter sales leapt 26.8% to total $91.7m.
Frutarom said rising sales from its flavours division had driven the rise in turnover, while recent acquisitions, including UK-based flavours firm Belmay also contributed to the performance.
Ori Yehudai, Frutarom president and CEO, said: "This growth comes, among others, from utilizing the considerable synergy from our acquisitions in the last few years and it will grow as we realize the synergy of the acquisitions made this year."
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