ISRAEL: Frutarom doubles Q1 profits
By: just-food.com | 17 May 2010
Israeli ingredients group Frutarom doubled its profits in the first quarter of 2010, boosted by boosted by an increase in sales and cost-cutting measures.
For the three-month period, net profit amounted to US$11.1m compared to $5.6m a year earlier.
The firm’s revenues also increased, climbing 15.5% to reach $113.5m. The rise was mainly due to organic growth in Frutarom’s core activities of flavours and speciality fine ingredients.
The merger of the three acquisitions implemented in the first half of 2009 and foreign exchange also contributed to the increase in sales.
Operating profit increased by 61.9% to reach $16.6m, while EBITDA increased by 47.3% to $21.3m.
Ori Yehudai, Frutarom's president and CEO, said: “We are satisfied by the profitable growth trend in the quarter and believe that it will be also continuing during the year. As expected, we witness fine results that emerged from the steps we have taken to strengthen and improve our competitiveness and to increase our operating efficiency.”
Sectors: Commodities & ingredients, Financials
Companies: Frutarom
View next/previous articles
17 May 2010 -
17 May 2010 -
Currently reading -
ISRAEL: Frutarom doubles Q1 profits
17 May 2010 -
17 May 2010 -
Related research
This report profiles the leading players in the global flavor and fragrance industry. Flavor is the sensory notion of a food or other substance, and is determined mainly by the sense of taste....
Food & Beverage Flavour Trends in Western Europe
For both food and drink fads and in more established trends, one message that consumers clearly state to manufacturers is “great taste!” Well-targeted flavour innovation is therefore a crucial part in successful new product launches. Moreover, flavou...
Enzymes NEW US industry forecasts for 2014 & 2019
This comprehensive study analyzes the US market for enzymes, which encompasses both specialty and industrial enzymes typically manufactured using fermentative microorganisms, as well as those sourced from plants and animals. Specific types of enzymes...
There are currently no comments on this article
Be the first to comment on this article