Israeli food and beverage firm Strauss Group saw operating income drip in 2008 but said a series of one-off items boosted earnings at the net level.

The company said today (25 March) that operating profit fell 3.7% to NIS480.3m (US$117.2m) during 2008.

Net profits jumped by 86.2% to NIS461.5m thanks to proceeds from the allotment of a 25.1% stake in Strauss Coffee, the consolidation of the Sabra business and the sale of its kosher distribution unit in the US.

President and CEO Erez Vigodman said: “This year we continued to grow and drive profitability for the sixth year in a row, while managing the unprecedented macro challenges the year brought, developing and enhancing both our core business and financial strength.”