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IFF Financials Indicate Strong Showing for Q4, Full Year 2010
Posted: February 10, 2011
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The flavor business unit’s full year 2010 financial report saw local currency sales increase 10% over the prior year. All categories achieved strong growth as higher volumes and new business wins drove results. In Greater Asia and EAME, nearly all categories experienced double-digit growth. In North America, increased volumes and new business wins in beverages and confectionery drove results. Performance in Latin America was strong as new business wins and volume recovery in savory, confectionery and dairy more than offset the loss of non-strategic business.
And local currency sales for the full year 2010 for the fragrance business unit increased 16% over the prior year as all regions and nearly all categories reported double-digit growth. In fine fragrance and beauty care, new business wins, increased volumes and some benefits of restocking earlier in the year drove strong double-digit growth. Functional fragrance performance was strong as new wins across all categories led results, and in fragrance ingredients, underlying improvements in demand and some elements of restocking drove double-digit growth.