Strauss Reports Soaring Profits

YERUSHALAYIM -

The Israeli food giant, Strauss Group, has reported a doubling of profits in the second quarter of 2013 over the first quarter, according to Globes on Tuesday.

Strauss’s revenue is soaring. It 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.

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.”