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IFF Q2 and Half-Year 2006 Results
Posted: August 9, 2006
International Flavors & Fragrances (New York) has reported second-quarter 2006 sales of $531 million, an increase of 3% over the prior year quarter. (All percentage gains and losses are measured against the same period 2005.) Sales for the quarter were affected by the strength of the US dollar. Fragrance sales for the quarter increased 3%, while flavor sales increase 2%. Leading the fragrance sales was fine fragrance, which increased 9%. Sales of functional fragrances increased 1%, and fragrance ingredient sales declined 3%.
For the six-month period ended June 30, sales totaled $1,042 million, which is essentially flat with the 2005 period. Sales for the first half of the year were affected by the strength of the US dollar. India, Latin America and North America showed the most growth with 9%, 8% and 6% increases, respectively.
Of the results, IFF chairman and CEO Robert Amen said, “The improvements in sales and costs are very encouraging. The IFF team will continue to focus on customers, innovation and people to drive our growth. We continue to perform very well in fine fragrances, and in many of the markets we’ve targeted for growth — notably Eastern Europe, India and Latin America.”