Sensient rides high thanks to pricing and currency

By Clarisse Douaud

- Last updated on GMT

Related tags: United states dollar, Flavor

Sensient Technologies Corporation reported in its financial results
for the first quarter of 2008 that profits have been further
boosted by pricing and currency conditions.

The food flavor and colors company reported "record"​ revenues of $307.4mn, which it indicates is up 7.8 percent from Q1 2007. A low US dollar against other key currencies has favored some exporting businesses. The rise in food prices, while adversely straining consumers and some manufactures, has benefited some ingredients firms such as Sensient. The Wisconsin-based ingredients company reported that its operating income rose by 15.8 percent. "For the first quarter, we reported record revenue and our ninth consecutive quarter of strong earnings growth,"​ said Kenneth Manning, Sensient chairman and CEO. "We see favorable pricing and growth in several key product lines, and we expect our strong performance to continue throughout the year." ​ Meanwhile, cash provided by operating activities in the three months ended March 31, rose to $9.7mn, compared to $5.1mn in the same period in 2007. Sensient is a leading global supplier of flavors, fragrances and colors for use in food and beverage, as well as supplying other industries, including pharmaceuticals and personal care. The Flavors & Fragrances Group reported revenue for the first quarter increased 8.1 percent to $195.2mn, compared to $180.5mn in the same period of the previous year. Operating income was also up 13.2 percent to $28.8 million, compared to $25.4 million for the first quarter of 2007. The firm indicated revenue for this group was bolstered by favorable foreign currency translation as well as pricing. It said the group's European operations were particularly profitable over the quarter. Sensient's color division also reported improved revenue on the basis of favorable foreign currency translation and improved pricing. The color group's revenue increased 6.8 percent in the first quarter over the same quarter in the previous year, reaching $102.8mn. Quarterly operating income for the division rose 8.1 percent over the same period.

Related topics: Suppliers, Flavors and colors

Related news

Show more

Related products

show more

T. Hasegawa releases 2023 Flavor Trends Report

T. Hasegawa releases 2023 Flavor Trends Report

T. Hasegawa USA | 10-Jan-2023 | Insight Guide

When it comes to flavor, 2023 promises more exciting experiences in food and beverage than ever before. Analyzing the “Now, Near and Next” of consumer...

Add sparkle and magic to your next product

Add sparkle and magic to your next product

Glanbia Nutritionals | 28-Oct-2022 | Product Presentation

93% of consumers cite appearance as the most important purchasing factor when it comes to food, creating a market focused on the use of bright colors to...

We bring energy drinks to life

We bring energy drinks to life

Döhler – Natural Food & Beverage Ingredients | 03-Oct-2022 | Technical / White Paper

Doehler natural ingredient solutions and all-in-one compounds create energy drinks that make the difference! Grow your business with flavorful concepts...

Related suppliers

Follow us

Products

View more

Webinars