Strauss_Group

Strauss Group, an Israel-based food and beverage company, has reported NIS2,605m ($677.32m) sales for the first quarter of 2012, up 16.5%, compared to NIS1,773m ($460.9m) for the same period in 2011.

Growth was mainly in the Strauss Coffee, which grew by 26.1% in the quarter and in the international dips and spreads activity, which grew by 30.5%.

Net income attributed to the shareholders of the company in the first quarter totaled NIS65m ($16.90m) compared to NIS70m ($18.20m) last year (3.9% of sales), a decrease of 7.2%.

Gross profit (GAAP) in the first quarter grew by 10.3% and totaled NIS733m ($190.58m) compared to NIS664m ($172.64m) in the corresponding quarter in 2011, and its rate decreased from 37.5% in 2011 to 35.5% in 2012.

Gross profit (non-GAAP) in the first quarter grew by 7.4% and totaled NIS731m ($190.06m) compared to NIS680m ($176.8m) in the corresponding quarter in 2011, and its rate decreased from 38.4% in 2011 to 35.4% in 2012.

Operating profit of the coffee business increased 15.3% to NIS77m ($20.02m) in Q1 2012, compared to NIS67m ($17.42m) for the same period in 2011.

Strauss Group chairperson Ofra Strauss said The Strauss Group continues to invest in future growth engines, strengthen the company’s competitive position and grow market shares, as streamlining processes, improvements and organizational adjustments to the company continue.

The operations of Strauss Group in Israel include the Health & Wellness and Fun & Indulgence Divisions, the coffee business in Israel, Max Brenner in Israel and Strauss Water in Israel.

Strauss Water engages in the development, manufacture, marketing and sale of systems for the purification, filtration, heating and cooling of drinking water for the home market and away-from-home consumption.

Image: Strauss Group’s first quarter sales amounted to NIS2,065m, an increase of 16.5%, compared to NIS1,773m last year. Photo: Free Digital Photos