Fine Fragrance wavers as IFF announces Q3 sales

Fragrance business grew 2% however sales in its Fine Fragrance division dropped 6%

International Flavors & Fragrances (IFF) has announced ‘strong financial performance’ for Q3 2018, reporting a 4% increase in net sales to $980m. Reported operating profit for the third quarter was $159m, an increase of 7% on the previous year.

Its fragrance business saw a 2% overall growth, however there were losses for the group’s Fine Fragrance business, which saw sales drop by 3%. Its Consumer Fragrances division grew 2%, while the Fragrance Ingredients division saw a 6% increase in sales.

The results follow the completion of the Frutarom transaction in early October, which has strengthened the business’ position as a global leader in taste, scent and nutrition.

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