French flavor and fragrance group Robertet’s net profit grew 16.56% to €48.536m in 2017. Excluding non-recurring items, net profit would have increased by 12%.
Turnover was up 7.71% to €504.39bn. Sales in the raw materials division grew 10.6%, driven by good results in the US and China, and fragrance sales were up 12%.
In Europe, which accounted for 35% of the group’s sales, revenues in the UK were up 15% in local currency, while sales in Spain grew 27%.
Latin and South America accounted for 11% of total sales, with Robertet Brazil posting 16% sales growth in Brazilian Real and accounting for close to 13% of the group’s profits.
In China, sales were up 39%. Operations in Asia currently account for 18% of Robertet’s sales, and a future objective is to raise this proportion to 25%.
The group’s first quarter 2018 sales of €133.4m were stable compared to the previous year but up 7.9% at constant exchange rates.
For 2018 as a whole, the company is targeting growth of 5% at constant currency.