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Orgasynth 2007 & Q1 2008 Results
Posted: May 19, 2008
Orgasynth (Paris) has announced revenue for 2007 of €67.33 million, compared with €110.86 million in 2006. In July 2007, the company sold its fine chemicals and dyes business to Argos Soditic, to refocus on its core flavors and fragrances businesses. Operating profit, after accounting for a €62.31 gain on asset sales in 2007, rose to €21.38 million, up from €1.706 million in 2006. Orgasynth’s continuing operations, mainly the flavors and fragrances businesses (Floressence, Adrian Industries and Fontarome), generated €32.318 million of revenue and €16.317 million of net profit, while the sold businesses generated €35.011 million of revenue and €3.725 million of net profit.
The company reported first quarter 2008 revenue of €7.263 million, down from €8.763 in the same period 2007. However, the 2008 figure does not include revenue from Orgachim, which is in compulsory liquidation and generated €559,000 of revenue in Q1 2007.