ISRAEL: PepsiCo dips JV helps Strauss FY profits
Strauss had "good year across all segments", CEO Gadi Lesin said
Israel-based food and beverage maker Strauss Group today (26 March) reported a jump in annual profits.
Strauss booked a 39.1% rise in net income to NIS329m (US$94.3m) for 2013. EBIT grew 23% to NIS769m.
President and CEO Gadi Lesin said Strauss had a "good year across all segments" but pointed in particular to Brazilian coffee unit Três Corações and its US dips venture with PepsiCo, Sabra.
Dips and spreads is a fledgling business for Strauss, accounting for only 15% of its turnover. Coffee is the largest single business unit, generating just short of half Strauss's NIS8.14bn in 2013. The company's domestic food and beverage arm made another NIS3bn last year.
The company's international dips and spreads unit generated sales of NIS600m, up 14.9% on 2012. Strauss has two divisions within the dips and spreads business. Sabra, its US unit, saw sales grow 12.3% to NIS565m. Obela, its dips and spreads venture with PepsiCo outside the US, is a newer business and saw sales jump 82.6% to NIS34m. The Obela unit does business in Mexico and Australia.
Group turnover slid 0.5% on 2012 on the back of currency fluctuations. On an organic basis, excluding foreign exchange, sales were up 4.8%.
Click here for the full statement from Strauss Group.
For an interview with Strauss CFO Sahar Florence, conducted last week in London, click here.
Strauss Group is active in a wide variety of packaged food categories in Israel and the company also operates at global level through its cooperation with local brands in various countries. The compan...
In 2013, although heavily dependent on snacks, PepsiCo posted strong financials, and again increased its returns to investors. Recent acquisitions/joint ventures, such as Tingyi, Müller Quaker Dairy a...
Within a very restrictive business environment, PepsiCo’s strategy is aimed at directing resources – both physical and human – towards core production lines which use local components (for example ext...
Synopsis The Canadean Global Top 10 Food Companies: Company Guide is a crucial resource for anyone looking to gain information on the top companies in the global food industry. Detailed company profil...
- Challenges for General Mills with The Good Table
- Greek crisis - The impact on shopper behaviour
- What US companies might Nomad Foods buy?
- Why investors are concerned about water risk
- Competition intensifies among UK burger chains
- Mitsubishi buys stake in Olam International
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Arla strikes JVs in Nigeria and Senegal
- Mengniu sales dip but work on costs boosts profits
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Biscuit Manufacturers (UK) - Industry Report
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020