Strauss Group reports 2008 results with sixth consecutive year of growth in sales and profit
Ofra Strauss, Chairperson of Strauss Group, said today, “Throughout 2008 Strauss continued to grow and expand, primarily outside of Israel, while navigating a highly complex and challenging year. In parallel to this strong growth and geographic expansion, we continued to strengthen our core foundations and enhance our long term strength and sustainability, which is ever more relevant and critical in the current environment. “
Erez Vigodman, President & CEO of Strauss Group, said today, “This year we continued to grow and drive profitability for the sixth year in a row, while managing the unprecedented macro challenges the year brought, developing and enhancing both our core business and financial strength. We focused and optimized the activities in Israel, while continuing to grow and expand overseas, this, while building infrastructure and forging major partnerships, to support our continuous and rapid growth of both the global coffee company as well as the Sabra operations in North America.
In addition, this year we further equipped the organization to navigate the macro economic challenges expected in 2009, granting us the resources to identify potential opportunities in the current market. ”
• Annual Group sales reached NIS 6.2 billion, an increase of 5%; Organic growth, net of exchange rate impacts, totaled 7.6%.
• Reported annual operating profit totaled NIS 480 million, compared to NIS 499 million last year; Operating profit, on a pro-forma basis, totaled NIS 522 million compared to NIS 512 million in 2007.
• Reported annual net profit reached NIS 462 million, compared to NIS 248 million last year; Annual net profit, on a pro-forma basis, reached NIS 285 million, compared to NIS 274 million last year.
• Sales in Q4 totaled NIS 1.56 billion, a decrease of 0.5%; Organic growth, net of exchange rate impacts, totaled 5.4%.
• Q4 reported operating profit reached NIS 100 million, compared to NIS 99
million in 2007; Operating profit for Q4, on a pro-forma1 basis, totaled NIS 101 million compared to NIS 111 million last year
• Q4 reported net profit reached NIS 73 million, compared to NIS 42 million in Q4 2007; Net profit, on a pro-forma basis, totaled NIS 56 million compared to NIS 59 million in Q4 2007.