Owing to efficiency measures undertaken by Osem in 1999, Israel’s largest food manufacturer registered in 2000 sales returns amounting to £333m, a 3% increase over 1999. The company, in which Nestlé has a controlling stake, reported an 8% increase in operating profits for the 4th quarter, to £5.5m, and net profits rose by 14.5% to £5.1m, according to a report in Maariv. Osem operating profits in 2000 rose by 22% reaching £22m. However, its net profit in 2000 amounted to £16.6m, a 7% decline compared with 1999, according to the report.
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Overseas turnover amounted to £38.1m, similar to 1999, “but with a 15% increase in volume, which was not expressed due to the fall of the euro, especially regarding sales by Tivall, Osem’s subsidiary that manufactures vegetable-based meat analogues.”
By Aaron Priel, just-food.com correspondent
