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Food and beverage company Strauss Group has reported “significant growth” as part of its fourth quarter and full year of 2024 results amid rising raw material prices.
In 2024, the company’s annual revenues surpassed the NIS 11 million mark for the first time, totalling NIS 11.2 billion (US$3.04 billion) and up 6.2 per cent compared to 2023.
Strauss concluded the fourth quarter of 2024 with revenue of NIS 2.9 billion (US$0.79 billion), reflecting 6.6 per cent growth compared to the corresponding quarter last year.
Additionally, the company concluded 2024 with NIS 752 million (US$204 million) in operating profit, 6.7 per cent of the sales, and net profit of NIS 418 million (US$113 million), 3.7 per cent of the sales. In the fourth quarter, operating profit was NIS 174 million, 6.1 per cent of the sales, and net profit was NIS 74 million, 2.6 per cent of the sales. Strauss has announced a dividend of NIS 160 million.
“We have concluded the first year of implementing our revised strategy, in which we focused and strengthened our core business, adjusted our organisational structure to support future growth, continued to invest in production sites and infrastructure, built growth drivers, as well as optimised our portfolio to improve our financial and business resilience,” says Strauss Group President and CEO Shai Babad.
“In 2024 the war continued, and it was a challenging and complex year for Israel. The Group’s employees continued to manufacture and market our products, maintaining business continuity, and supporting food security of all.”
The post Strauss Group reports Q4 and full year 2024 results appeared first on Global Coffee Report.
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