Ariel has promised to lower the entrance Hermon 30% - prices will go down by 10% only

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Ariel has promised to lower the entrance Hermon 30% - prices will go down by 10% only
LED holy 29/05/14, 10:30
Increasing the regulated product portfolio and the introduction of white cheese and cream into it led to a decrease in sales of 1.8% yield in the first quarter of the year. Volume of sales revenue was $ 1.72 billion compared with 1.75 billion a year earlier. In addition, an increase in tax expenses because of the increase in the corporate tax, the company suffered a decline in net profit by 3.1% in the first quarter and amounted to NIS 86 million, compared with NIS 89 million last year. Despite the decline in sales revenue, gross profit increased yield of 6% to -483 million shekels, following a decline in the price of milk inputs.
Eric Schorr, CEO of Tnuva, said: "In the first quarter of 2014. In addition the group has faced these effects in the prices of controlled products with a decrease in size Hsok.totzaot quarter reflect the group's efforts to streamline and add to market high value products to consumers which helped improve slightly operating margin. "
Yaacov Heen, Chief Financial Officer of Tnuva Group, commented: "This quarter we continued the process of adjusting the revenue cost structure that we kept operating margin. In the same quarter were positive seagull book non-recurring seagull book items which reduced general and administrative expenses, excluding the effects of these so there is actually an improvement in operating profit. In addition, cash flow from operating activities improved seagull book by 25 million compared to the Mkbilhastkd, against a team is the momentum of investment Lrbotfreukt Dairy Tel Yosef. During the quarter, the Group repaid the debt for long-term seagull book loans of $ 400 million, principal and interest, which is reflected in a decrease in our liabilities balances on one hand and a decrease in the cash balance on the other. "
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