ISRAEL: G Willi-Food Intl reports rise in Q4 revenue
Israeli food importer and Kosher food supplier G. Willi-Food International has announced a rise in revenue for the fourth quarter, ended 31 December 2004, to 40.2m new shekels (US$ 9.36m) from 34.7m shekels in the fourth quarter of 2003.
Net income for the three month period increased by 3.1m shekels compared to 1.9m shekels the same period of 2003.
Revenues for 2004 rose to 171.0m shekels from 137.4 million in 2003. Net income for the period increased 11.2m shekels from 8.8 million in 2003.
"The fourth quarter was a strong end to a record year for Willi-Food," said Zvi Williger, president of Willi-Food. "Our increased revenue levels as compared to 2003 derived from our growing portfolio of unique Kosher products, the continuous expansion of our marketing and advertising efforts, and encouraging improvement of the Israeli economy.
"In parallel, our successful control of expenses and purchasing terms has enabled us to post a steady rise in gross, operating and net margins," he said. "As the engine for our future growth, we continue to prepare for entering the US and other international markets while continuing to expand our local distribution and sales capabilities."
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