Strauss Group Profit Retreats In Q2

(RTTNews) - Strauss Group (SGLJF.PK) revealed earnings for second quarter that Drops, from the same period last year

The company's bottom line came in at NIS64 million, or NIS0.55 per share. This compares with NIS82 million, or NIS0.70 per share, last year.

Excluding items, Strauss Group reported adjusted earnings of NIS80 million or NIS0.69 per share for the period.

The company's revenue for the period rose 10.2% to NIS1.875 billion from NIS1.701 billion last year.

Strauss Group earnings at a glance (GAAP) :

-Earnings: NIS64 Mln. vs. NIS82 Mln. last year. -EPS: NIS0.55 vs. NIS0.70 last year. -Revenue: NIS1.875 Bln vs. NIS1.701 Bln last year.

This decline in net income reflects higher financial expenses, mainly due to appreciation of Shekel and higher tax expenses due to profit mix.