Kosher food specialist G. Willi-Food has booked a surge in nine-month profits, boosted by higher sales and margins.
The company said today (6 November) that net income increased by 61.9% to NIS24.6m (US$7m) in the nine-months to 30 September, up from NIS15.2m last year. Operating income for the first nine months of 2013 increased by 54.5% to NIS24.7m, the group added.
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Gains were driven by an increase in sales, which rose 20.9% to NIS253.9m, and an improved profit margin. Gross margins increased from 25.2% of sales compared to 23.1% last year.
“Our financial results have significantly improved over the last five quarters as a direct result of our strategy to organically grow our customer base and product line, while at the same time expanding our margins. We intend to reinvest in the development of the company in order to maximize profitability and increase long-term value for our shareholders,” chairman Zwi Williger commented.
