The group's sales grew by 26.2% and amounted to a record 39 million dollars with an adjusted EBITDA rate of 21.5%, which is one of the highest in the industry in which the group operates Sales in the Scent segment showed double-digit organic growth of 11.0% and Taste segment sales posted double-digit organic growth of 11.3% The gross profit increased by 21.8% and amounted to 14.4 million dollars; The operating profit increased by 31.1% and amounted to 5.5 million dollars and the net profit increased by 10% and amounted to 3.3 million dollars Since the beginning of 2024, Turpaz has recruited a number of leading experts with a wealth of knowledge and experience in leading international companies in the flavor and fragrance industry, including Global Master Perfumer, Global Senior Flavorist, Chief Commercial Officer of Flavors Europe and Global Procurement Manager From the beginning of 2024, Turpaz has completed two synergistic strategic acquisitions for its operations, Sunspray in South Africa and the Clarys & Willich group in Belgium and Germany, and completed 10 acquisitions since becoming a public company in May 2021 The Turpaz share was added to the Tel Aviv 125 index in the last update HOLON, Israel, May 20, 2024 /PRNewswire/ -- Turpaz Industries group (TASE: TRPZ), which develops, manufactures, markets and sells directly and through its subsidiaries worldwide, fragrances, flavor solutions and unique raw materials, reports today its financial results for the first quarter of 2024 in which record results were recorded in sales, gross profit and adjusted EBITDA. The Turpaz group's revenues in the first quarter of 2024 grew by 26.2% and amounted to a sales record of $39 million compared to sales of $30.9 million in the corresponding quarter last year. The increase is due to both organic growth at a rate of 6.1% and the acquisition of companies and activities. The results of the Clarys & Willich group, whose acquisition was completed in April 2024, will be consolidated into the group's results starting from the second quarter of 2024. In the division by segments, revenues from the Scent segment (which constitute 22.6% of the group's sales) achieved a double-digit organic growth of 11.0%, and grew to $8.8 million, mainly due to growth in the EMEA region. The revenues from the Taste segment (which constitute 63% of the group's sales) grew by 52.2% to $24.6 million both as a result of acquisitions completed during the year 2023 and in the first quarter of 2024, and from double-digit organic growth of 11.3%.   The revenues from the Specialty Fine Ingredients (which constitute 14.4% of the group's sales) amounted to 5.6 million dollars, an organic decrease of 16.6% compared to the corresponding quarter last year mainly from the continuation of the destocking trend among customers, bringing forward orders from the first quarter of 2024 to the fourth quarter of 2023, and increasing competition in this market sector. Turpaz is operates to change the product mix in this segment, focusing on the introduction of citrus products ...