The Tel Aviv-listed food group Strauss-Elite Ltd has reported a 22.1% increase in consolidated revenues for the second quarter to NIS1.25bn (US$285.61m). Revenues for the first six months rose by 26.8% to NIS2.50bn.
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The company, which produces snackfoods, confectionery and coffee, reported that operating profit for the second quarter reached NIS101.2m, 17.8% ahead of a pro-forma operating profit figure for the second quarter of last year. For the first half, operating profit rose by 16.4% from the pro-forma figure to NIS211.9m.
Reported GAAP net profit reached NIS170.1m for the second quarter, against NIS19.4m last year, while first-half net profit totalled NIS232.5m, compared with NIS72.4m in the first half of last year.
The company said that the second quarter of 2006, like the first half year as a whole, showed continued growth in revenues across the group, adding that the accelerated growth was primarily driven by the widening of business activities from international operations, which grew by 63.6% in the second quarter, and by 78.9% in the first half.
“Again, we have delivered strong results as we continue to grow sales, operating profit and net profit in both Israel and internationally,” said Strauss-Elite’s CEO Erez Vigodmann. “Our recent acquisitions have been successfully integrated into the Strauss-Elite Group, and are already making significant contributions to our results. We remain committed to our long-term strategy of building a global business and brand.”
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