Ingredients company Frutarom has announced a rise in sales to US$196.8m in 2004 from $139.3m in 2003. Net profit rose to $15.8m from $8.0m.
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“In 2004 Frutarom made further significant progress in positioning itself as one of the world’s leading flavours and fragrances companies,” said Ori Yehudai, the Frutarom Group’s president and CEO.
“The excellent results that Frutarom achieved are due to the double digit organic growth in core activities (as achieved in previous years), the successful integration of the Flachsmann activities acquired by Frutarom in 2003; and our focus on leveraging the cross selling possibilities from the recent acquisition of the Food Systems activity from International Flavors & Fragrances, Inc.,” he said.
“The company’s management has set a revenues target of US$ 500 – 600m for 2008,” he said. “This goal will be achieved by continuing to implement our rapid growth strategy of recent years, which includes accelerated growth in core activities, above-industry average growth, and by executing strategic acquisitions.”
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By GlobalData
