Emerging markets and higher sales of savoury ingredients have helped grow half-year profits at International Flavors & Fragrances.
The US-based company booked a 13.8% rise in net income to US$193m for the six months to the end of June. Net sales were up 3.7% at $1.49bn. Higher earnings and sales in the second quarter also helped the results.
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IFF’s flavours business, which develops ingredients for dairy, sweet and savoury goods, saw sales and profits increase in the first six months of 2013.
Reflecting on the division’s performance in the second quarter, IFF said it had seen “broad-based growth” across emerging and developed markets. However, IFF said its sales were up in emerging markets at a “double-digit” rate on a like-for-like basis.
The company reported a “high single-digit” increase in savoury sales after securing new contracts.
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