Frutarom (Haifa, Israel) has announced second quarter 2007 sales of US$ 91.7 million, a growth of 26.8% over the same period 2006. The company cites the following factors as the main contributors to the growth in sales: growth in the sales of flavors; growth in the sales of the Fine Ingredients division’s core activity products; integration of Acatris’ activity; merger of Belmay and Jupiter; and strengthening of the European currencies and New Israeli Shekel against the dollar. Sales in the first half of 2007 grew 20.1% to total US$ 172.2 million.
Gross profit for the second quarter rose 25% to reach US$ 32.8 million, while gross margin reached 35.8% compared with 36.3% in the same quarter 2006. Operating profit totaled US$ 8.5 million, compared with US$ 9.7 million, while operating margin reached 9.3% compared with 13.4% in the same period last year.
Of the second quarter results, Frutarom president and CEO Ori Yehudai said, “In the second quarter of 2007, Frutarom achieved accelerated organic growth in its core activities in line with the business strategy we have been implementing in recent years. This growth comes, among others, from utilizing the considerable synergy from our acquisitions in the last few years and it will grow as we realize the synergy of the acquisitions made this year.”