Israeli food manufacturer Osem Investments has reported third-quarter net profit of 36m shekels (US$7.7m), compared with 33.9m shekels a year earlier.

The company, which is 50.1% owned by Nestlé, also reported a fall in third-quarter revenues to 592.6m shekels from 625.3m shekels a year earlier.

Osem said it would continue with streamlining measures that helped with profit growth during the last quarter. The company also plans to acquire Israeli firms and foreign companies with Israel-based factories, reported Reuters.