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IFF

This article was originally published in The Rose Sheet

Executive Summary

Net sales dropped 4.3% to $365.3 mil. in the second quarter as a result of currency translations, the fragrance supplier said. North American fragrance sales climbed 6%. Fragrance sales decreased by 2% in the quarter, with Western Europe reporting the largest decrease at 7%. Net income was down 11.7% to $55.9 mil. For the half, IFF reported a sales decrease of 3.3% to $738.7 mil., and net income fell 6.3% to $118.5 mil. With new product development in both flavor and fragrances, the company "expect[s] to realize the benefits of accelerating sales as the year progresses"...
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