This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Strauss Group Reports Its Third Quarter & First Nine Month 2011 Results And Reports Sales Growth With Profit And Margin Erosion

Stocks in this article: STRS

TEL AVIV, Israel, November 16, 2011 /PRNewswire/ --



Strauss Group (STRS.TA) today reported its results for the third quarter and first nine month of 2011.  

Ofra Strauss, Chairperson of Strauss Group, said today: "Strauss continued with its strategic plans of international expansion, while emphasizing the adjustments necessary in Israel as a result of public dialogue and the social protest that has erupted over the high cost of living in the country.  While investing in international markets and the company's growth engine, Strauss continues to review all work plans to provide appropriate solutions to the new reality."

Gadi Lesin, President & CEO of Strauss Group, said today: "Strauss Group reports Third Quarter results with a 13.8% growth in sales, with growth evident in all activities and geographies. In Israel, the Group home base, we continue to grow in volume and value with continued investment in innovation."

"While Group sales experienced growth, operating income and profitability eroded due to the increase in raw material, input costs and energy prices. Net profit increased by 7% following the decrease in finance expenses. The Group continues to invest in developing its international activities, emphasizing investment in water and refrigerated dips and spreads through strategic international partnerships."

Third Quarter Financial Highlights [1] :

  • Sales totaled NIS 2.0 billion ( NIS 1.8 billion last year), up 13.8%; Organic sales growth net of exchange rates effect totaled 12.2%.
  • Gross profit totaled NIS 688 million (34.1% of sales), compared to NIS 642 million last year (36.3% of sales), up 7.3%.
  • Operating profit totaled NIS 139 million (6.9% of sales), compared to NIS 161 million last year (9.1% of sales), down 13.6%.
  • Net profit to shareholders totaled NIS 61 million, compared to NIS 54 million last year, up 13.7%.

Nine Months financial Highlights [2] :

  • Sales totaled NIS 5.6 billion ( NIS 5.0 billion last year), up 11.5%; Organic sales growth net of exchange rates effect totaled 10.2%.
  • Gross profit totaled NIS 2.0 billion (35.8% of sales), compared to NIS 1.9 billion last year (38.5% of sales), up 4.0%.
  • Operating profit totaled NIS 418 million (7.4% of sales), compared to NIS 479 million last year (9.5% of sales), down 12.7%.
  • Net profit to shareholders totaled NIS 170 million, compared to NIS 209 million last year, down 18.7%.

Main pro-forma data (in NIS million):

                        Nine Month       Third Quarter
                 2011  2010  % Chg  2011  2010  % Chg
          Sales 5,629 5,047   11.5 2,015 1,771   13.8
         Profit 2,017 1,941    4.0   688   642    7.3
     Profit (1)   418   479  (12.7)  139   161  (13.6)
     Profit for
     the Period   237   286  (17.0)   86    81    7.9
     Net Profit
            (2)   170   209  (18.7)   61    54   13.7

(1) Before other income (expenses)

1 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs