Israeli food company Strauss Group has hailed a “record” year, booking an increase in sales and profits during 2010.
The company said that total revenues rose 7.5% in 2010 climbing to NIS6.85bn (US$1.92bn). Excluding currency exchange, organic growth totalled 4%, as the company increased sales in Israel and the US.
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Gross profit rose 9.1% during the period, climbing to NIS2.58bn, while operating profit increased 5.4%, totalling NIS601m.
President and CEO Gadi Lesin said that Strauss had successfully driven both international and domestic sales growth. During the year, the company also formed a new strategic partnership in the water sector with Haier and inaugurated a new salad plant in the US.
Looking to the coming 12 months, Lesin said that Strauss would continue to deliver on its global expansion strategy.
“Strauss Group will continue its global expansion journey, entering new markets and countries with high-growth potential, and expanding its portfolio of businesses. The group will make further investments in future growth drivers- fresh foods, Strauss Water and Strauss Coffee – while enhancing its leadership position at the Israeli home base,” he said.
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