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Strong global coffee sales boost Israeli foodmaker Strauss Q3 profit
November 16, 2017 / 9:15 AM / a month ago

Strong global coffee sales boost Israeli foodmaker Strauss Q3 profit

JERUSALEM, Nov 16 (Reuters) - Israeli food company Strauss Group reported a 35 percent rise in quarterly profit, boosted by strong global coffee sales.

Strauss, a maker of snacks, fresh foods and coffee, said on Thursday it earned 125 million shekels ($35 million) in the third quarter, up from 92 million shekels a year earlier. Revenue rose 5.5 percent to 2.2 billion shekels.

Strauss is the second-largest company in the Israeli food and beverage sector.

Coffee sales grew 12.2 percent to 1.1 billion shekels in the July-September period, with international sales up 15.6 percent to offset a decline in coffee sales in Israel.

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 fell 6.7 percent in the wake of a hummus recall a year ago over concerns about listeria.

$1 = 3.5285 shekels Reporting by Steven Scheer

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