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Orgasynth Half-Year Results
Posted: November 1, 2007
Orgasynth (Paris) has announced an 8.0% drop in the first half of 2007 turnover, totaling €52.3 million (first half 2006: €56.9 million). Operating results for the period reached €1.6 million. The turnover drop was mainly due to the fine chemicals and dyes businesses—sold by the company in July—which were down by 11.8%.
Business in the flavors and fragrances sector increased by 10%, with consolidated turnover of €16.5 million against €15.0 million as at the end of June 2006. Floressence's fragrances business posted turnover of €6.7 million, up by 11.8% on the same period of 2006. Sales of essential oils by the Adrian Industries subgroup amounted to €6.2 million, a rise of 8.7%. Turnover from Fontarome's flavors business climbed to €3.5 million, a rise of 7.3%.
On July 13, 2007, Orgasynth signed over ownership of its fine chemicals and dyes divisions to Argos Soditic, in order to concentrate on developing its flavors and fragrances businesses. The company expects that by the end of the year sales of flavors and fragrances should be within a range of €30–32 million, which would raise growth to around 7% for this business compared to 2006.