Strauss Group Ltd (SGLJF) 16.1300 $SGLJF Straus
Post# of 273322
Posted On: 09/21/2016 5:06:55 AM
Strauss Group Ltd (SGLJF) 16.1300 $SGLJF
Strauss has concluded a strong first quarter of 2016 with 7.7% growth in EBIT and 5.1% growth in net profit. Foreign currency effect led to a 2.6% drop in the Group's Shekel sales; excluding foreign currency effect, the Group's growth was 4.7%.
PR Newswire - Mon May 23, 1:11AM CDT
Gadi Lesin, President and Chief Executive Officer of Strauss Group (TASE: STRS), said today (May 23, 2016): "The first quarter of the year shows positive trends and strong results that have yielded growth in our shareholders' earnings. Innovation and efficiency enhancing moves have enabled Strauss Israel to post positive growth in contrast to the trend in the market, Strauss Water and Sabra also contributed to the ongoing improvement in the Group's operating profit. Although the coffee company has continued to post growth in local currency in Brazil and in the CIS countries, the foreign currency effect on translation into Shekels remains significant. We believe that the measures we are applying in our key countries of operations, including Brazil, the US, Russia, China and Israel will continue to contribute to the bottom line despite the challenges we face in a tough competitive environment."
STRS: 24.44 (-0.03)
Strauss has concluded a strong first quarter of 2016 with 7.7% growth in EBIT and 5.1% growth in net profit. Foreign currency effect led to a 2.6% drop in the Group's Shekel sales; excluding foreign currency effect, the Group's growth was 4.7%.
PR Newswire - Mon May 23, 1:11AM CDT
Gadi Lesin, President and Chief Executive Officer of Strauss Group (TASE: STRS), said today (May 23, 2016): "The first quarter of the year shows positive trends and strong results that have yielded growth in our shareholders' earnings. Innovation and efficiency enhancing moves have enabled Strauss Israel to post positive growth in contrast to the trend in the market, Strauss Water and Sabra also contributed to the ongoing improvement in the Group's operating profit. Although the coffee company has continued to post growth in local currency in Brazil and in the CIS countries, the foreign currency effect on translation into Shekels remains significant. We believe that the measures we are applying in our key countries of operations, including Brazil, the US, Russia, China and Israel will continue to contribute to the bottom line despite the challenges we face in a tough competitive environment."
STRS: 24.44 (-0.03)
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