Tel Aviv, March 30 - Israeli food maker Osem Investments , which is 53.8 percent owned by Swiss food giant Nestle , said on Sunday its fourth-quarter net profit fell as the year-ago results were boosted by a capital gain.
Net profit in the quarter fell to 65.9 million shekels ($15.7 million) from 79.2 million a year earlier.
Osem attributed the decline to a capital gain in the 2007 fourth quarter from the sale of real estate. Excluding one-off items, net profit in the quarter grew 5 percent to 56.8 million shekels.
Sales rose 6 percent to 788.9 million shekels.
The company declared a total dividend of 100 million shekels, unchanged from a year earlier.
($1 = 4.20 shekels)