Strauss profit jumps 25%


The Israeli company's net profit rose to NIS 97 million.

Food and beverage manufacturer Strauss Group Ltd. (TASE:STRS) today published its results for the second quarter of the year, reporting 6% growth in revenue to NIS 2.05 billion. The company's net profit jumped 25% to NIS 97 million, due to a reduction in tax expenses, among other thing, even though the company's operating profit margin on sales did not improve.

Strauss said that the strengthening of the shekel against the dollar had had a negative impact on its results, and that excluding currency effect, its sales had grown 6%.

Strauss's revenue in the first half of 2017 was up 8% to NIS 4.1 billion, and its net profit climbed 15% to NIS 213 million.

Strauss announced that it would distribute a NIS 160 million dividend to its shareholders.

Published by Globes [online], Israel Business News - - on August 13, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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