Fragrance Sales Increase at IFF
International Flavors & Fragrances Inc. posted a 40 percent uptick in net sales for the third quarter, mostly due to the company's acquisition of Frutarom.
Net sales were almost $1.3 billion, up from $908 million in the prior-year period. Net income was up 36 percent, to $129.8 million, from $95.7 million.
"Scent continued to perform well, growing low single-digits, and we have seen a sequential improvement at Frutarom, with broad-based increases across many categories," said IFF chairman and chief executive officer Andreas Fibig.
While scent segment sales were up 2 percent, with strong performance in fine fragrance in Europe, the Middle East and Asia, the company said. Consumer fragrances grew in the low single digits, led by home care, hair care and fabric care.
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