TEL AVIV Nov 22 Israeli food company Strauss
Group reported a 7 percent rise in quarterly net
profit on Tuesday, boosted by higher sales of coffee.
Strauss, a maker of snacks, fresh foods and coffee, reported
adjusted net profit of 92 million shekels ($23.8 million) in the
third quarter, up from 86 million a year earlier. Revenue edged
up 6.1 percent to 2.1 billion shekels.
Strauss is the second-largest company in the Israeli food
and beverage sector.
"In Israel, our home base, we continued to have high growth
rates in contrast to the market trend and we reduced prices for
our core products," said chief executive Gadi Lesin.
Coffee revenue grew 9 percent to 955 million shekels in
the third quarter as operating profit jumped 76 percent.
Sales at its international dips and spreads joint
ventures with PepsiCo fell 1.1 percent.
Separately, Strauss said a recall of Sabra spreads in the
United States this month would hurt operating profit by $5
($1 = 3.8597 shekels)
(Reporting by Tova Cohen)