IFF Q1
This article was originally published in The Rose Sheet
Executive Summary
North American fine fragrance sales advanced 10% during the first quarter on new wins and a rebound from a weak holiday season, Senior VP and Chief Financial Officer Doug Wetmore announces during April 29 analyst call. Functional fragrance revenues in the region were up 13% due to a more favorable comparison with the prior year quarter, while North American net fragrance sales for the period also increased 13%. Fragrance sales in the region are anticipated to grow in the low single digits in 2004, fragrance supplier says. Overall net sales for the quarter were up 15% to $535 mil. due to currency. Excluding restructuring and other charges from the year-ago period, net earnings jumped 24% to $56.4 mil...
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