Israeli food maker Strauss Group posted a loss in first-quarter earnings today (25 August), hurt by a decline in sales and one-time factors.
Go deeper with GlobalData
Income for the period dropped to NIS74m (US$19.5m) from NIS84m in the comparable period of 2008.
Operating profit also dipped to NIS135m from NIS137m in the prior year. The drop was due to lower operating profit for the company’s coffee sector. Pre-tax profit, however, increased 5% to reach NIS134m.
Ofra Strauss, chairman of Strauss Group, said: “Strauss showed continued sustainability while navigating unprecedented macro challenges. Throughout the quarter we continued to strengthen our core foundations for growth while enhancing our long term standing and sustainability”.
Net sales for the period edged up 1.2% to NIS1.52bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
