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IFF (New York) has reported fourth-quarter 2006 sales of $514 million, a gain of 11% over the same period 2005. Full-year sales rose 55 year-over-year, reaching ~$2.1 billion.
Q4 fragrance sales rose 13%, led by an 18% gain in fine fragrance. Flavor sales for the period rose 7%, aided by flavor compound sales increases in all regions. Net income for the period reached $44 million, a 192% gain over 2005. For the quarter, R&D expenses totaled 9% of sales.
Net income for full-year 2006 reached $223 million, a gain of 15% over 2005. R&D expenses for the period totaled ~9%.
Of the results, IFF chairman and CEO Robert Amen said, “The strong fourth quarter performance tops off a very good 2006 for IFF. It is very encouraging to see the fourth quarter growth in both flavors and fragrances, all driven by the excellent contribution of the people of IFF.”