Tapaz Falls Despite Record Revenues; CEO Buys Shares

In depth

Tapaz, a manufacturer of fragrance and flavor concentrates, published third-quarter results in which its revenues reached a record $94 million. Organic growth fell to 2.4% compared with 18.2% last year, and operating profit rose by only 3.5%.

Chief Financial Officer Guy Gil said the company's multi-year target is growth in the region of 6%. CEO Keren Cohen Chazon said the pace of acquisitions has not slowed, and that 2030 will see revenues of about $800 million.

Keren Cohen Chazon, CEO and controlling shareholder of the company, bought Tapaz shares worth 11 million shekels following the decline in the share price.