IFF (New York) has reported second quarter 2007 sales of $574 million, a rise of 8% over the same period 2006 ($531 million). Excluding the effects of a favorable exchange rate for the US dollar, sales increased 5%. Gross profit, as a percentage of sales, remained flat, year-over-year, totaling 42.9%. Here, the scaling up of production in the company’s new fragrance ingredient facility in China offset improvements.
Flavor sales jumped 11% for the period, with increases in all regions. Fragrance sales rose 6%, with 11% gains in fine fragrance and beauty care sales. Functional fragrance sales rose 4%, while ingredient sales gained 1%.
Of the results, IFF chairman and CEO Robert Amen said, “We are pleased with the continued growth in sales, operating profit and earnings … Looking ahead, we believe we are well-positioned to continue to grow in line with our goals.”