Strauss Group Posts Drop In Q1 Profit

Israeli food maker Strauss Group SGLJF posted a fall in its first-quarter profit. Strauss Group's quarterly adjusted earnings fell to 99 million shekels ($28.5 million), versus 103 million, in the year-ago period. Its sales slipped 2% to 1.97 billion shekels. Strauss Group's coffee sales declined 12.4%, while international coffee sales tumbled 15.4%. Strauss Group's sales at its joint venture Sabra increased 14.5%. Sales in Israel climbed 4.4%.