Fragrance and flavor company Turpaz reported an increase of 50.1% in sales during the third quarter of 2024, which amounted to $48.7 million.
In the first nine months of 2024, the company’s revenue grew by 43.1%, or $134.5 million. Company officials attribute the growth in revenue to Turpaz’s core activity as well as its four acquisitions since the beginning of 2024.
Sales Report Highlights
- Gross profit in the Q3 increased 53.6%.
- Net profit in Q3 was $4.6 million.
- The adjusted EBITDA for Q3 grew to $12 million, an increase of 59.3%.
Looking Forward
Karen Cohen Khazon, chairperson and CEO of Turpaz, said, “We are satisfied with the additional level jump and the results we have achieved in the third quarter and the nine months of 2024, in which we also recorded records in sales, gross profit an adjusted EBITDA. In the last four years, we have doubled Turpaz’s revenues and profits, a move that expresses the successful implementation of our rapid and profitable growth strategy that combines internal growth, leveraging the synergies between the companies in the group, and strategic acquisitions that contribute to the continuous and consistent improvement in our results.”
