Israeli food distributor G. Willi-Food booked a drop in profit for the first quarter as pressure on pricing and higher promotional costs hit the bottom line.
Operating income fell 30% in the three months to NIS6.4m (US$1.8m) the company said. Net income fell 13.9%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company said it was squeezed by greater pressure to drop prices from its customers and an increase in global prices.
Sales in the period were up, however, climbing almost 5% year-on-year.
