Osem-Nestlé, Israel’s leading food manufacturer, reported Q2 net profits up 6.6% to NIS27.4m (US$5.82m) compared with NIS25.7m in the same period last year.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company reported sales down 1.6% to NIS578.7m while operating profits rose 28.5% to NIS55m compared with the corresponding quarter last year. Osem explained that a 10% hike in taxes to NIS22.5m reduced net profits for the quarter.
Osem’s sales fell 3.7% in the first half of 2002 to NIS1.12bn, maintaining that the sales decline was due to the inflation. Sales turnover increased 2.7% in volume terms, compared with the same period last year. It further stated that domestic sales fell 4.5% to NIS970.3m while overseas sales rose 1.4% in real terms to NIS149.6m. The food producer’s operating profit rose 25.4% in the first half of 2002 to NIS98.6m, while net profit rose 6.2% in real terms to NIS56.7m for the aforementioned period.
By Aaron Priel, just-food correspondent

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData