Israeli flavours and ingredients group Frutarom posted a 25% increase in net profit for the fourth-quarter and said it can double sales to US$1bn by 2012.

The ingredients maker recorded a net profit of US$6m from $4.8m in the same period a year earlier.

Operating profit for the period rose by 15.3% to reach $8.4m.

Sales however, fell, dropping 9% to $98.7m, hurt by weak European currencies as well as a trend of inventory reduction among Frutarom customers.

Ori Yehudai, Frutarom’s president and CEO said: “Frutarom will continue to act determinedly to implement its rapid growth strategy which combines organic growth and strategic acquisitions. We consider the challenging and complex period which global economics undergoes as an opportunity for further strengthening.”

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earnings per share grew at a rate of 25% and reached $0.10 compared to $0.08 during the same period last year.