IFF reports robust Q1 2015

STARTING the year positive, International Flavors & Fragrances Inc. announced strong financial results for the first quarter ended 31 March 2015.

Chairman and CEO Andreas Fibig said, “We delivered mid-single-digit sales growth, and double-digit increases in both adjusted operating profit and adjusted EPS, all on a currency neutral basis. At the same time, we continued to invest in the business to support our goal of Winning Where We Compete by bolstering our Flavors business with the acquisition of Ottens, the opening of a new sales and creative facility near Chicago, and the expansion of our creative center in South Africa.”

In flavors, beverages grew high double-digits with growth across all regions driven by new win performance and strong innovative solutions for better-for-you products. Growth was also achieved in all other categories including Dairy, Sweet and Savory.

IFF reported sales increased 3%, or $10.6 million, to $377.1 million from $366.5 million in the prior year quarter.

The flavors segment profit increased 5%, or $4.7 million, to $92.7 million in the first quarter of 2015.