Nestlé Unit Osem's Second Quarter Net Income Up 19%

Boosted by acquisitions and the strong performance of Nestlé brands, leading Israeli food producer and distributor Osem Investments - 53.8% owned by the Swiss giant - has reported second quarter (the three months to June 30 2009) net income of ILS57.7mn (US$15.2mn). Sales revenues climbed by an encouraging 7.3% year-on-year (y-o-y) to ILS844.6mn. Bearing in mind that Israel's food industry is steadily saturating (through to 2013, BMI expects food consumption to increase by 9.9% to ILS70bn), established companies like Osem are continuing to leverage off the strength of their domestic businesses to expand beyond Israel's borders.

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