Israeli food group G Willi-Food has posted a 41.7% jump in sales during the second quarter to NIS79m (US$23.6m).
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The company said organic growth in its home market had been “particularly strong”.
Gross profit for the second quarter increased by 27.3% to NIS16.8m, up from NIS13.2m in the comparable period of last year.
The company, however, did book an operating loss of NIS1.4m for the second quarter due to losses incurred from the closing down of US business WF Laish.
Willi-Food earnings were also hit by the order to pay NIS2m in damages in its arbitration case with US firm Vitarroz Corp.
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By GlobalDataDuring the first half of 2008, Willi-Food saw operating income rise 3.9% to NIS13.4m, on the back of a 45.8% jump in revenue to NIS185.5m. Gross profit was up 38.6% to NIS46.8m.
Despite volatile commodity prices, Willi-Food said it expects to maintain its historical gross margins through the full fiscal year by maintaining tight controls of its cost of sales.
Zwi Williger, president and COO, said: “Willi-Food’s solid top-line growth reflects the synergies found in bringing together a broad range of premium kosher products to our internal and external distribution channels. We will continue to work on diversifying our product base, expanding our distribution channels and maintaining control of our cost of sales.”
