Strauss Group Ltd (SGLJF.PK), an Israeli consumer food company, on Monday reported an increase in net profit for the third quarter, as sales grew more than 7 percent, reflecting growth across all business segment.
For the three-month period, the Group registered a net profit of Israeli New Shekel or NIS 99 million, higher than NIS 80 million, posted for the same period last year.
Excluding items, however, earnings slipped to NIS 102 million or NIS 0.88 per share from prior year's NIS 120 million or NIS 1.04 per share.
Income before taxes on income was NIS 157 million, compared with NIS 133 million in 2023. Excluding items, EBIT stood at NIS 223 million as against NIS 212 million.
Operating profit after other expenses improved to NIS 197 million from last year's NIS 153 million.
Adjusted EBITDA was NIS 332 million, up from last year's NIS 320 million.
Sales, on a GAAP basis, improved to NIS 1.873 billion from the previous year's NIS 1.746 billion. Segment wise, Strauss Israel generated sales of NIS 1.371 billion, up 9 percent from the previous year.
Shai Babad, CEO of Strauss Group, said, "..The Group has delivered a quarter of growth across all business segments, despite ongoing challenges posed by rising raw material prices, which continue to put pressure on our margins."
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