Israeli food group Osem Investments, in which Nestlé owns a 53.8% share, has reported a first-quarter net profit NIS77.1m (US$19.4m), up 9% from NIS70.9m in the corresponding quarter last year.
 
Earnings per share rose from NIS0.64 to NIS0.70 on turnover up 8.6% at NIS847.1m.
 
The company said first-quarter net profit and sales had been boosted by recent acquisitions, as well as deeper penetration of Nestlé products and expansion into the chilled food sector.

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