Strauss Group Ltd. (SGLJF.PK), an Israeli consumer foods company, on Tuesday reported a rise in sales for the fourth quarter.
Shai Babad, CEO of Strauss Group, said: "We have concluded the first year of implementing our revised strategy, in which we focused and strengthened our core business, adjusted our organizational structure to support future growth, continued to invest in production sites and infrastructure, built growth drivers, as well as optimized our portfolio to improve our financial and business resilience."
For the three-month period, the company reported a net profit of the New Israeli Shekel, or NIS 392 million, higher than NIS 104 million, recorded for the same period last year. Excluding items, earnings were NIS 74 million, or NIS 0.64 per share, as against the prior year's NIS 100 million, or NIS 0.86 per share.
Income before taxes on income stood at NIS 587 million as against NIS 152 million a year ago.
Operating profit after other expenses surged to NIS 634 million from NIS 196 million in 2023, while operating profit before other expenses slipped to NIS 148 million from last year's NIS 184 million.
Sales improved to NIS 1.789 billion from NIS 1.705 billion in the previous year.
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