Sensient Technologies Corp. has reported second quarter 2008 revenue of $332.8 million, a gain of 9.4% year-over-year. The company's first-half revenue reached $640.2 million, a rise of 8.6% compared to the same period 2007. The company attributed the results in part to a "favorable foreign currency translation."
The flavors and fragrances group reported that its results were positively affected by increased efficiencies in its European operations, "solid growth" in Europe and Canada and a favorable foreign currency translation. These factors were slightly offset by growing energy and raw material costs. According to a company statement:
The Flavors & Fragrances Group reported record quarterly revenue and operating income. Second quarter 2008 revenue increased 7.8% to $214.4 million. Operating income was up 11% to $33.9 million compared to the second quarter of 2007. Year-to-date revenue increased 8.0% to $409.6 million and operating income jumped 12.5% to $62.7 million.