Strauss Group Today Announces Results for Third Quarter 2012

Strauss Group Today Announces Results for Third Quarter 2012 PR Newswire TEL AVIV, Israel, November 21, 2012 TEL AVIV, Israel, November 21, 2012 /PRNewswire/ -- THE GROUP REPORTS 3.1% SALES GROWTH AND 26.1% NON GAAP OPERATING PROFIT GROWTH THANKS TO STRONG RESULTS IN THE INTERNATIONAL COFFEE SEGMENT AND IN SABRA'S OPERATIONS IN NORTH AMERICA A one-time net gain of approximately NIS 59 million on the realization of assets contributed to a significant increase in the GAAP profit for the third quarter. Ofra Strauss, Chairperson of Strauss Group, said today (November 21, 2012): "The third quarter results reflect Strauss Group's capabilities in managing a diverse, international business portfolio. The company continues to invest in developing its international activities and strengthening growth drivers while persevering in streamlining processes, innovation, and providing significant added value to consumers in all markets where it is active, particularly in our home market in Israel." Gadi Lesin, President and Chief Executive Officer of Strauss Group, said today: "Strauss Group posted 26.1% growth in the non-GAAP operating profit in the third quarter of 2012 thanks to strong performance in the international coffee segment and in Sabra, where sales grew by 34.2% in the quarter. At the same time, the Group continues to contend with challenges in its home market in Israel and is implementing dozens of internal streamlining processes.