* Q3 adjusted net profit 69 mln shekels vs 61 mln shekels
* Sales up 3.1 pct to 2.1 bln shekels, coffee sales up 2.7
TEL AVIV Nov 21 Net profit at Israeli food and
drinks maker Strauss Group rose 14.5 percent in the
third quarter, boosted by higher sales of coffee and its spreads
and dips joint venture with PepsiCo.
Quarterly net profit excluding one-time items rose to 69
million shekels ($17.6 million) from 61 million a year earlier,
Strauss said on Wednesday.
Sales rose 3.1 percent to 2.1 billion shekels, buoyed by a
2.7 percent rise in its coffee business and a 34.2 percent jump
in sales at its Sabra joint venture with PepsiCo.
"The group continues to contend with challenges in its home
market in Israel and is implementing dozens of internal
streamlining processes," President and Chief Executive Gadi
Strauss, a maker of snacks, fresh foods and coffee, is a
market leader in roast and ground coffee in central and eastern
Europe. It is the second-largest company in the Israeli food and
beverage market with an 11.9 percent share.
Global coffee sales rose to 1.05 billion shekels, boosted by
growth in most of the geographical areas in which it operates
except for Brazil, where sales fell 3.4 percent. After
neutralising the impact of exchange rates, global coffee sales
grew 7.6 percent.
Sales at Strauss Water, which makes drinking water
purification systems, grew 5 percent to 112 million shekels.