Frutarom’s third-quarter sales rose 30.9% to $210.8 million marked by a jump in both flavors and specialty fine ingredients as well as growth in emerging markets. Net income climbed 42% to $24.2 million.
Continued growth in emerging markets activity, combined with the acquisition of the flavors and natural colors activity of Montana in Peru and Chile (which took place in the fourth quarter) is expected to lead to the share of sales in emerging markets rising and reaching close to 50% of Frutarom's total sales in the coming year.
Third-quarter sales in its flavors business, the most profitable of its activities, increased by 26.6% to reach $151.1 million representing 71.7% of total sales. Sales of specialty fine ingredients in the third quarter grew by 11.3% and totaled $40.8 million.
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