JERUSALEM, May 29 (Reuters) - Israeli flavour and fine ingredients maker Frutarom Industries reported on Tuesday a 35 percent rise in first-quarter net profit on record sales.
The company reported a quarterly net profit of $46 million excluding one-time items, up from $34 million the same quarter a year ago. Revenue jumped 27 percent to $384.8 million.
International Flavors & Fragrances Inc agreed earlier this month to buy Frutarom for $7.1 billion in cash and stock.
Frutarom said that about 73 percent of sales came from its flavor business.
It has targeted $2.25 billion in revenues in 2020. (Reporting by Ari Rabinovitch)