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Strauss Group delivered strong performance in Q1

Christian 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
Strauss Group   The improvement is primarily the result of impressive growth
The improvement is primarily the result of impressive growth in volumes sold in most of the company's areas of activity.

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.


 

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