Israeli food group Strauss-Elite reported third-quarter sales of NIS980.4m (US$222.7m), up 14.5% over the same period last year.
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This included NIS743m of local sales, an increase of 10%, and NIS237m of sales overseas, a 30% increase over the corresponding period last year.
Operating profits climbed to NIS83.7m, or 8.5% of sales. Rival Osem registered third-quarter sales of NIS643m, gross profit measuring 45% of sales and operating profits amounting to 11% of sales. Strauss-Elite’s profits were 140% higher than in the same period last year, indicating that last year’s merger of Strauss and Elite has thus far been a success, according to a report in Haaretz.
