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By
Reuters
Published
Aug 9, 2011
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International Flavor quarterly profit climbs

By
Reuters
Published
Aug 9, 2011

August 9 - International Flavors & Fragrances posted higher quarterly earnings as growth in developing markets helped offset higher raw materials costs and weaker sales of its fragrance and beauty care products.


IFF is a global leader in the creation of fragrances. The company's fragrances are a key component in many of the world's finest perfumes and best-known consumer products brands.

Net income in the second quarter rose to $76.2 million, or 93 cents per share, from $67.2 million, or 83 cents per share, a year earlier.

Excluding one-time items, earnings per share were 97 cents, while analysts on average were expecting 96 cents, according to Thomson Reuters I/B/E/S.

Net sales rose 7.5 percent to $715.6 billion, beating the analysts' forecast of $701.7 million.

(Reporting by Matt Daily; Editing by Lisa Von Ahn)

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