Willi-Food International, the kosher foods manufacturer, has posted a jump in quarterly operating profit.
In its results for the second quarter and the six months ending June 30, 2011, which were announced Monday (August 15), the Israeli company also announced that sales rose 10%, gross profit rose 19.4% and net income was US$2.1m
Mr Zwi Williger, president and COO of Willi-Food, said: “We are very pleased with our overall performance and with our second quarter 2011 results, especially in the current challenging environment of increased competition resulting from customers demanding lower prices, despite global food commodity inflation.
“We have grown sales and gross profits while controlling growing expenses . Second quarter gross profits grew nearly 20% and operating income grew nearly 72%, despite huge pressure from the supermarket chains to reduce prices and well-known pressures in commodity costs being felt around the world.
“Throughout 2010 and 2011 we introduced great-tasting, higher margin food products, which we developed with our suppliers. We implemented our plan to increase the awareness of our new products by initiating hard sale activities that created broad awareness of our new and old products and broadened our customer base. “That has helped us achieve our goals to strengthen our position in the market.” ENDS