Strauss Group booked mixed full-year numbers today (23 March), as lower finance costs offset lower operating profit.
The company said full-year operating profit dropped 3.1%, falling to NIS746m (US$188m). Net earnings were 12.6% higher at NIS371m, however, as lower financing costs lifted the bottom line.
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Sales were flat at NIS8.1bn "similar to last year" as currency exchange offset 4.2% organic growth.
"Strauss continues to implement a strategy aimed at deepening operations abroad while simultaneously tailoring the company to accommodate the changes and challenges in the Israeli food market," president and CEO Gadi Lesin said.
The company also revealed that it plans to spin-off its coffee business and has filed a conditional draft prospectus with the securities and exchange commission.
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