TEL AVIV, Israel, March 27, 2012 /PRNewswire/ --
Strauss Reports Annual Growth in Sales of 12.3%, 3.0% Decrease in Gross Margin Percentage and 23.6% Decrease in Net Profit .
Q4 2011 Sales Grew by 14.5%, With 2.9% Decrease in Gross Margin Percentage and 0.6% Increase in Net Profit (*) .
FOURTH QUARTER Financial Highlights:
- Net sales increased 14.5% to NIS 2.1 billion compared to NIS 1.8 billion LY; organic sales, net of exchange rate impacts, grew 13.7% .
- Gross profit increased 5.4% reaching NIS 686 million (33.2% of sales) compared to NIS 651 million (36.0% of sales) LY.
- Operating profit increased 33.7%, totaling NIS 154 million (7.5% of sales) compared to NIS 115 million (6.4% of sales) LY .
- Net income reached NIS 33 million.
- 2011 sales totaled NIS 7.7 billion compared to NIS 6.9 billion LY, a growth of 12.3%; significant growth in all Company activities: in Israel, Coffee, Sabra and Water; organic growth, excluding exchange rate impacts, totaled 11.1%,
- Gross profit increased by 3.3% to NIS 2.7 billion compared to LY, the gross margin percentage fell from 37.8% to 34.8%.
- Operating profit decreased by 10.7% and totaled NIS 523 million (6.8% of sales), compared to NIS 586 million (8.5% of sales) LY.
- Net income totaled NIS 161 million vs. NIS 211 million LY, a decrease of 23.6%