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.
Go deeper with GlobalData
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.”
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
