International Flavors and Fragrances (IFF) reported second-quarter net income of $76.2 million, up 13% from the same period last year, on sales up 7%, to $716 million. Excluding special items, reported earnings were 97 cts/share, up 14% from the year-ago quarter. IFFâ€™s flavors unit posted operating profit up 10%, to 71 million, due to higher sales and cost-cutting. Emerging regions drove sales growth, the company says. Its fragrances unit posted a 11% decline in operating profit, due to a $4-million restructuring charge, double-digit raw material cost...
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