IFF
This article was originally published in The Rose Sheet
Executive Summary
Net fragrance sales in the first quarter increased 4%, driven by the performance of fine fragrances, which experienced 12% growth in dollars and 9% in local currency due largely to new fragrance wins, International Flavors & Fragrances announces April 27. North American fragrance sales, however, fell 3% in Q1 on a reported basis, hampered by a 5% decline in fine fragrance revenue, company adds. Net sales during the period fell 2.2% to $523.1 mil., or 4% on a constant currency basis, firm states. Net income for the period declined 6.8% to $52.5 mil., negatively impacted by the sale of IFF's European fruit business...