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Strauss posts 117% profit growth

Strauss Group’s net profit rose to NIS 75 million for the second quarter from NIS 35 million for the corresponding quarter of 2012.

Ofra-Strauss  Chairwoman of BoardOfra Strauss Chairwoman of Board

/ By Moshe Golan /

Food company Strauss Group Ltd. (TASE:STRS) today published its financial report for the second quarter of 2013, reporting substantial growth in revenue and net profit, compared with the corresponding quarter of 2012.

Revenue rose 4.2% to NIS 2 billion for the second quarter from NIS 1.9 billion for the corresponding quarter of 2012. Gross profit rose to NIS 751 million for the second quarter from NIS 665 million for the corresponding quarter.

Net profit rose 117% to NIS 75 million for the second quarter from NIS 35 million for the corresponding quarter.

Cash flow from operations fell to NIS 236 million for the second quarter from NIS 250 million for the corresponding quarter.
Strauss Group president and CEO Gadi Lesin said, “The group continued to post strong performance in the quarter and top-line growth in all activity segments, particularly Strauss Israel. Focused strategy, innovation, investment in strengthening our brands and smart cost management also led to significant growth in the group’s operating and net profit.”
Published by www.globes-online.com 

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