TEL AVIV Aug 25 Israeli food maker Osem
Investments said on Sunday its second-quarter net
profit rose 4 percent, boosted by higher sales due to the timing
of the Passover holiday and a decline in administrative
Osem, 58.8 percent owned by Swiss food company Nestle
, posted quarterly net profit of 90.1 million shekels
($25.1 million), compared with 86.7 million a year earlier.
Revenue rose 7.9 percent to 1.06 billion shekels due to the
timing of the Passover holiday, when Osem's domestic sales
usually dip. This year the holiday fell in the first quarter
while last year it occurred in the second quarter.
It also attributed the improved profitability to deeper
penetration of Nestle products, an expansion into new activities
in Israel and abroad, new products and efficiency measures.
($1 = 3.59 shekels)
(Reporting by Tova Cohen)