Frutarom’s double-digit growth in Q2 is due to accelerated growth in specialty fine ingredients and excellent flavours sales, says the firm, which has a rapid growth strategy in place.
Frutarom has reported a rise in net profit of 6.3 per cent to US$10m in the third quarter of this year and pledged to continue its acquisition strategy.
Dutch life sciences giant, DSM, is feeling the effects of the recession with profits sliding 76 per cent, but its Nutrition division has bucked the trend to be the only section of the company to record improved sales over the second quarter.
The global economic crisis will yield rich pickings for food firms with a strong capital structure. So believes Frutarom, which has reported another quarter of impressive growth figures on the back of its most recent acquisitions splurge.
Frutarom is ready to start casting about for new acquisitions in the second half of 2008, after another strong quarter in which it reaped the benefits of the seven businesses it acquired in 2007.
Novozymes has reported 'highly satisfactory' results for the first
nine months of 2006, enabling the enzyme giant to adjust the
outlook for earnings upwards.
Operation Phoenix, the restructuring programme introduced earlier
this year by Dutch wellness foods group Wessanen, is already
bearing fruit, with the company last week announcing
better-than-expected third quarter figures. But the...
Sales have continued to slide at German chemicals firm Degussa
during 2003 and lower volumes continue to drag down food
ingredients business. A one-off charge to restructure the fine
chemcials unit impacts profits.
Swiss fine chemicals producer Lonza is facing increasing pressure
from emerging markets with sales of its organic and performance
chemicals dropping 11 per cent in this year's first half.
Speciality chemicals company Cognis yesterday reported its
operating result before EBITDA rose 3 per cent to €393 million for
2002, despite flat sales during the year.