IFF Raises Long-Term Sales Outlook; Emerging Regions Are Major Growth Driver

摘要

International Flavors and Fragrances (IFF) has raised its long-term annual organic sales growth forecast to 4%-6%, compared with earlier expecta- tions of about 4% growth. IFF says it expects 5%-6% annualized sales growth in emerging regions and 1%-3% growth in the developed world. Operating profit is expected to grow 7%-9% while earnings per share are expected to grow more than 10%, IFF says. First-quarter 2011 EPS is on track to grow 10% due to strong sales growth and cost-cutting initiatives. "Our strategy in 2011 and beyond will focus on improving both growth and profitability as we leverage our emerging market position, strengthen our innovation platform, and maximize our portfolio," IFF chairman and CEO Doug Tough said during the company's investor meeting yesterday.