Continuing its growth from the prior year and strong sales in flavors, Frutarom’s 2014 total sales rose 21.6% and the company plans to reach over $1.5 billion in sales by 2020.
Frutarom sales in 2014 rose 21.6% to $ 819.5 million, despite currency effects hurting sales growth by 2.3% as a result of the strengthening of the U.S. dollar. Total fourth-quarter sales grew 5.4% to reach $202.2 million and currency effects reduced sales in dollar terms by 8.7%.
Flavors sales climbed 19.3% to reach $ 589.8 million for 2014. Flavors sales in the fourth quarter rose 6.1% to reach $147.7 million.
Frutarom sales in the field of specialty fine ingredients rose by 8.8% in 2014, reaching $158.4 million. The company's sales in specialty fine ingredients amounted to $34 million in the fourth quarter compared with $33.8 million in the same quarter last year
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