Ingredients firm Frutarom booked higher half-year sales and profits today (21 August), pointing to the benefits from acquisitions made in the last two years.
The company booked a 17% increase in net income to US$27m for the first six months of the year. Excluding costs linked to a plant closure in Germany, earnings were up 24.4% at $33.2m.
Operating profit increased 10.6% to $43.8m, or by 15.6% to $46m, if the closure costs are stripped from the numbers.
The flavours supplier said sales reached $320.8m, up from $316m a year earlier.
Frutarom made eight acquisitions in 2011 and 2012, including companies in Brazil, the UK and the US. CEO Ori Yehudai said: “All the acquisitions made in 2011 and 2012 have contributed to the increase in sales and significant improvement in profit.”