Israeli food and beverage manufacturer Strauss Group Ltd. (TASE:STRS) has reported a rise in revenue and profit for the third quarter of 2017.
Revenue was NIS 2.2 billion compared with NIS 2.1 billion in the corresponding quarter of last year. Revenue growth was 8.3% when excluding foreign currency exchange rate effects. Operating profit (EBIT) was NIS 221 million up c3.4% compared to last year. Earnings per share was NIS 1.09, up 26.4% from the corresponding quarter of last year.
In the first nine months of the year sales were NIS 6.3 billion compared with NIS 5.9 billion in the corresponding period of 2016. Operating profit (EBIT) was NIS 631 million up c3.6% compared with last year. EBIT margins were down c0.3%. EPS was NIS 3.04, up 17.6% compared with the corresponding period of last year.
Strauss Group president and CEO Gadi Lesin, President and CEO said, "The Group continues to post excellent financial results in all key metrics. The third quarter perpetuates the trend of prior quarters and demonstrates a strong performance by Strauss Israel and noteworthy results achieved by the Group's global growth drivers in the coffee and water companies, along with continued focus on efforts to improve Sabra's results. The results of our operations in key countries, including Brazil, Russia, China, Australia and Israel - combined with the initial deliverables of implementing our strategy of focusing on our core businesses - have generated robustness and stability the Group can continue to build on in the future."
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2017
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