IFF Q4
This article was originally published in The Rose Sheet
Executive Summary
North American fragrance sales increased 3% in Q4 and 9% in 2004, led by fragrance wins like Armani Mania, Island Michael Kors, Kenneth Cole Reaction and Dior Pure Poison,International Flavors & Fragrances reports during Jan. 26 sales and earnings release. Consolidated net sales grew 1% in Q4 to $468.2 mil., but fell 4% in constant currencies, compared to reported sales a year ago, which included sales of the divested fruit preparations business. Compared to pro forma results, sales fell 3.4%. Net income increased 7.4% to $40.9 mil., including restructuring charges. For the year, sales increased 6.9% to $2.03 bil., or 2% in constant currencies, led by 13% growth in fine fragrances and 7% gains in functional and aroma chemical fragrance sales. Sales increased 8.5% compared to pro forma sales a year ago. Net income for the year was up 13.6% to $196.1 mil., including restructuring charges...
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