Strauss Group Reports Solid Start to 2009 With Growth in Sales and Profit
Tel Aviv, May 26, 2009 – The Strauss Group (STRS.TA) today reported its results for the first quarter of 2009.
Ofra Strauss, Chairperson of Strauss Group, said today, “Strauss showed continued sustainability while navigating unprecedented macro challenges. Throughout the quarter we continued to strengthen our core foundations for growth while enhancing our long term standing and sustainability”.
• Sales in Q1 totaled NIS 1.52 billion, an increase of 1.2%; Organic growth, net of exchange rate impacts, totaled 6.3%.
• Q1 reported operating profit reached NIS 135 million, compared to NIS 125 million in the same quarter last year; Operating profit for Q1, on a pro-forma basis, totaled NIS 135 million compared to NIS 137 million last year.
• Q1 reported net profit totaled NIS 74 million, compared to NIS 84 million in Q1 2008; Net profit, on a pro-forma basis, reached NIS 80 million compared to NIS 65 million last year.
Erez Vigodman, CEO of Strauss Group, said today: ” The first quarter results exemplify the Group’s ability to withstand challenges, such as those presented in 2009”.
Gadi Lesin, incoming CEO of Strauss Group, said today, “Strauss Group presented a solid start to the year, with growth in both sales and profits, resulting from the Groups sound foundations, enabling it to meet the challenges posed in 2009. The improvement is notable for all of the Group’s activities in Israel, for global coffee and for our North-American operations.”.