ISRAEL: Strauss sees H1 profit, sales fal | Progresiv
Strauss Food Group has pointed to "macroeconomic events" in several of its businesses and regions which has led to a fall in sales and profit for the first half of the year. Strauss saw net income fall 20.6% to 13.3 million shekels (3.4 million dollars). Operating profit fell 17.9% to 309 mllion shekels. The firm said operating and net profit been impacted by a number of "specific events" including a recall of Sabra hummus in the US, the debt settlement with Mega Retail in Israel and an impairment provision in Serbia. 
Net sales including the impact of foreign exchange fell 3.9% to NIS3.8bn. Organic sales growth excluding the effect of forex was 1.3%.
Strauss' international dips and spreads business enjoyed a sales growth of 13.7% in the first half however pressure in the coffee business and a 4.8% drop of its Israel business impacted sales overall. (www.just-food.com)
