IFF’s Second Quarter Results Are Better Than Expected
International Flavors and Fragrances said second quarter sales increased 3% to $476.3 million. Net income reached $45.4 million, up from $33 million a year ago. By region, India experienced the strongest sales performance, as fragrance sales increased 27% in local currency. Europe increased 11%, Asia-Pacific rose 2%, North America increased 1%, and Latin America declined 6%. The loss in Latin America was attributed to slow economies in Argentina and other regions. For the year, sales fell from $961.8 million to $922.1 million.
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