Strauss Group delivered strong performance in Q1Christian Fernsby ▼ | May 25, 2020
Strauss Group non-GAAP gross profit margin in the first quarter of 2020 was NIS 878 million, up 3.9% compared to the corresponding period last year, gross profit margin was 40.5%, an improvement compared to the gross profit margin in the corresponding period, which was 40.1%.
Strauss Group The improvement is primarily the result of impressive growth
Topics: Strauss Group
The company's non-GAAP operating profit in the quarter was NIS 268 million, down by 0.5% compared to the corresponding period last year.
The currency depreciation eroded NIS 8 million from the company's EBIT of these the BRL eroded NIS 5 million.
The main reason for the drop is an increase in marketing and selling expenses and a drop in the profits of HSW in China as a result of COVID-19.
Net profit attributable to the shareholders of the company was NIS 171 million a decrease of 0.3% compared to the corresponding period last year – due to increased tax expenses. ■