Frutarom reports 19 per cent fall in sales
Ingredients supplier Frutarom has reported a decrease in sales and net income for the quarter.
Sales for the Israel-based company dropped 19.3 per cent to $98.4m, from $122m in the corresponding quarter last year.
Net income was $5.6m for the quarter compared to $9.7m the previous year.
According to the company, much of the sales decrease can be explained by the strengthening of the US dollar against the European currencies and the Israeli Shekel.
However, despite the drop in sales and net income, Frutarom says it is confident that it did not lose market share with its customers during the quarter.
