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TEL AVIV, Israel,
March 27, 2012 /PRNewswire/ --
Strauss Reports Annual Growth in Sales of12.3%, 3.0%Decrease in Gross Margin Percentageand23.6%Decrease in Net Profit.
Q4 2011 Sales Grewby14.5%,With2.9%Decrease in Gross Margin Percentageand0.6%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.
ANNUAL Financial Highlights:
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%
(*) The percentages for data listed are based on accounting data in NIS thousands, unless otherwise stated
Strauss Group (STRS.TA) today reported its results for the fourth quarter and full year 2011.