BREAKING NEWS

Consumer protest hits Strauss profit

By GLOBES

MARCH 27, 2012 14:37

"The consumer protest in Israel obliges us to improve and become more efficient at making organizational adjustments in line with the new reality, and increase the added value we provide to consumers," said Strauss Group Ltd. (TASE:STRS) chairwoman Ofra Strauss today, with the publication of the company's financial report for the fourth quarter and full year of 2011.

The fourth quarter results show the huge impact of the consumer protest.

Strauss' gross profit margin fell to 33.2% of sales from 36% in the corresponding quarter of 2010, due to the price cuts that the company was forced to make, as well as the rise in prices for raw materials.

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