The global creator of flavours and fragrances for consumer products posted net sales of $757.6m
International Flavors & Fragrances (IFF) has reported solid second quarter sales. Reported net sales came to $757.6m, climbing 5% on last year’s $721.3m. Adjusted operating profit increased 10% to $145.5m from $132.3m, while gross profit, as a percent of sales, climbed to 44.1% compared with 41.8% in the prior year.
Commenting on the results, Doug Tough, Chairman and Chief Executive Officer of IFF said: “IFF achieved strong operating results this quarter, with both business units achieving double digit growth in segment profit, due to the continued disciplined execution of our strategy. By focusing on expanding our geographic reach, strengthening our innovation platform and maximizing the value of our portfolio, we achieved strong top-line growth and margin expansion. Our profitability metrics, including gross profit margin, adjusted operating profit margin and adjusted net income margin, were all ahead of the prior year figures”.