March 13, 2019 / 7:10 AM / a month ago

Israeli foodmaker Strauss Q4 profit up 13.6 pct

TEL AVIV, March 13 (Reuters) - Israeli food producer Strauss Group reported a 13.6 percent rise in fourth quarter net profit, boosted by growth in its home market and in its international dips and spreads business.

Strauss, a maker of snacks, fresh food and coffee, said on Wednesday it earned an adjusted 87 million shekels ($24 million)in October-December, up from 77 million a year earlier.

Revenue slipped 0.4 percent to 2.15 billion shekels. Strauss is the second-largest company in the Israeli food and beverage sector.

Coffee sales fell 6.1 percent from a year earlier to 1.02 billion shekels, but edged down only 0.4 percent excluding foreign exchange effects. Strauss is one of the market leaders for roast and ground coffee in central and eastern Europe and Brazil.

Sales at its international dips and spreads joint ventures with PepsiCo rose 10.3 percent to 186 million shekels. ($1 = 3.6110 shekels) (Reporting by Tova Cohen Editing by Steven Scheer)

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