Israeli food manufacturer Osem, in which Swiss food giant Nestlé holds a 50.1% stake, has reported first quarter net profit of NIS31.7m (US$7.2m), compared to NIS29.6m in the year-ago period.

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The company’s revenue rose to NIS586.7m for the first quarter of 2003, compared to NIS546.4m in the first quarter of 2002.


Operating profit increased to NIS52.6m from NIS44.0m a year earlier.

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