Welcome to our dedicated page for STRAUSS GROUP ORD news (Ticker: SGLJF), a resource for investors and traders seeking the latest updates and insights on STRAUSS GROUP ORD stock.
Strauss Group Ltd. (SGLJF) is a global food and beverage company headquartered in Petah Tikva, Israel. The company operates across multiple segments including Strauss Israel, Strauss Coffee, Strauss Water, and International Dips & Spreads. With a focus on innovation, sustainability, and community involvement, Strauss Group has seen significant revenue growth in recent quarters. Their commitment to quality products and responsible business practices sets them apart in the industry.
Strauss Group (TASE: STRS) reported a 6.5% revenue growth for FY 2022, totaling NIS 9.5 billion. Despite this growth, profit margins suffered significantly, with net profit declining by 72.9% to NIS 174 million. Factors contributing to this decline included production halts in the confectionery division and Sabra, leading to a 12.3% drop in gross profit and a gross margin of 29.8%. Meanwhile, market shares for both Sabra and the confectionery division are recovering, reaching 37.6% and 24% respectively. While the company focuses on innovation and infrastructure investments, challenges remain in rising costs and external pressures.
Strauss Group reported a 7% increase in third-quarter revenue, reaching NIS 2.5 billion, driven by robust sales in its coffee business across Brazil and Europe. However, rising raw material costs, including a 47% drop in the confectionery division, led to a 9.9% decline in gross profit. Operating profit fell by 63.3% to NIS 111 million. The company anticipates net profit losses of NIS 290-310 million due to a confectionery recall. Despite challenges, Strauss Water and Strauss Coffee showed solid growth, with the latter seeing a 37.3% revenue increase in the quarter.
Strauss Group reported a revenue increase of 8% in the first half of 2022, totaling NIS 4.5 billion, despite challenges in its Confectionery Division and Sabra plant. The second quarter saw NIS 2.3 billion in revenue, a 4.6% rise, primarily due to coffee sales growth. However, operating profit dropped 59.1% to NIS 204 million, with net income down 66.2% to NIS 113 million. The company is resuming production gradually at its confectionery site and expects a return to full-scale operations at Sabra in the second half of 2022.
Strauss Group reported its 2020 financial results, showcasing resilience amid the COVID-19 pandemic. The company achieved NIS 8.35 billion in revenues, a 4.6% organic growth, despite a 2.2% decline in reported income due to negative currency translations totaling NIS 589 million. Organic operating profit rose by 5.4% to NIS 924 million, while net profit increased by 0.7% to NIS 551 million. Notably, Strauss Coffee and Strauss Israel experienced growth, although Sabra faced challenges with a 3.2% drop in organic sales. The company also published its thirteenth sustainability report.