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Sensient Reports Modest F&F Year-Over-Year Growth in Q1
Posted: April 20, 2010
Sensient Technologies Corp. (Milwaukee) has reported that consolidated revenue for the first quarter of 2010 rose 11% to $314.1 million, compared to $282.8 million in the first quarter of 2009.
The flavors and fragrances group posted revenue of $190.7 million during the period, an increase of 3.3% compared to first quarter 2009 revenue of $184.5 million. According to the company, "Revenue and operating profit, as reported, were up in the traditional flavor product lines, but this growth was offset by lower revenue and profits from the dehydrated flavors product lines. Revenue and profits from dehydrated flavors were down as a result of price adjustments in advance of lower raw material costs." Reduced raw material costs are expected to benefit results toward the end of the second quarter of 2010. Group operating profit was $27.2 million, compared to $30.0 million in the comparable period in 2009.
Of the results, chairman and CEO Kenneth Manning said, "This quarter's excellent results show solid growth across many of our markets. We continue to benefit from the investments we have made in the business and I am very optimistic about the company's future."