Share this article

Strauss Group has reported a drop in its first-half profits despite posting a strong increase in sales of its international dips and spreads business.

The Israeli food firm noted sales in its coffee business were lower while revenue was also impacted by foreign exchange.

For the first half ended 30 June, Strauss reported a profit drop of 5.3% to NIS221m (US$63m). It also posted a decrease in operating profit of 5.5% to NIS370m as a result of increased selling and marketing expenses.

Sales across the business fell 2.7% to NIS3.9bn despite the firm reporting an increase of 9.3% in sales from its international dips and spreads business to NIS170m.

Similarly, dips and spreads sales were up 9.3% to NIS320m in the second quarter of the year. However, second-quarter sales across the business fell 3.3% to NIS1.9bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

For the second quarter, Strauss reported a 6.3% drop in operating profit to NIS172m and a net income fall of 8.7% to NIS69m.

Shares in Strauss Group had fallen 2.8% today at NIS6.301 per share at 13:18 BST.

Click here for the full results.