date:Aug 26, 2013
Israeli food maker Osem Investments said on Sunday its second-quarter net profit rose 4 percent, boosted by higher sales due to the timing of the Passover holiday and a decline in administrative expenses.
Osem, 58.8 percent owned by Swiss food company Nestle , posted quarterly net profit of 90.1 million shekels ($25.1 million), compared with 86.7 million a year earlier.
Revenue rose 7.9 percent to 1.06 billion shekels due to the timing of the Passover holiday, when Osem's domestic sales usuall