ISRAEL: Strauss books Q1 profit increase
Strauss said it opened 2010 with further international expansion
Israeli food and drinks firm Strauss Group has booked an increase in first-quarter profits as it continues to expand in its domestic market.
For the three-month period, net profit increased 15.5% to reach NIS92m (US$24m).
Operating profit in the first quarter totalled NIS181m, an increase of 34.4% on the prior year. The growth is mainly due to maintaining the operating expense level, the firm said today (24 May).
The group’s sales amounted to NIS1.7bn, an increase of 11.5% on 2009. After stripping out the impact of currency, growth amounted to 8.1%.
Ofra Strauss, chairperson of Strauss Group, said today: "Strauss Group opened 2010 with further international expansion while continuing to invest in the development of new categories, which will become future growth drivers for the company.
“Strauss Group will continue to operate under the strategy that has characterised its activities in recent years: further development of international infrastructure and enhancement of the home base in Israel, while increasing investment in brands, innovation, and strategic partnerships and retaining and developing our people.”
The group said it will continue to invest in its future growth drivers, Sabra, Strauss water and coffee.
Israeli food maker Strauss Group has acquired the refrigerated salsa and dips business of California Creative Foods ("CCF") through its 50%-owned subsidiary Sabra Dipping Co....
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