IFF Profit Falls 14%

International Flavors & Fragrances (IFF) reported a 14% fall in second-quarter net income, to approximately $67 million, on sales up 11%, to $636.1 million. Second-quarter results included employee separation costs of $3.5 million, and a $3.9 million benefit from favorable tax rulings with respect to prior periods, IFF says. "While North America continues to be a challenge, total company revenue benefited from growth in the Greater Asia and Latin America regions where sales grew 20% or more,” says Robert M. Amen, IFF Chairman and CEO. “Our...

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