G Willi-Food International today (17 August) announced company revenues for the second quarter of 2006 increased 11% to NIS43.2m (US$9.7m).
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Gross profits at the company, one of Israel’s largest food importers and supplier of kosher food products, increased 6% to NIS 11.4m, compared to gross profits of NIS10.8m in the prior year second quarter period.
Willi-Food president and COO Zwi Williger said: “We are very excited about our strong results for the second quarter and first half of 2006. We were able to achieve revenue growth through successfully launching new items into our product line, as well as increasing sales of existing products to new and existing customers. We expect to launch additional new product lines in the second half of 2006.
“Our strong financial results for the first six months of 2006 demonstrate Willi-Food’s ability to capitalise on the growing interest of consumers in the kosher market.”
Revenues for the fist six months of the year increased 23% to NIS97.7m compared to the first half of 2005. Gross profits for the period increased 35% to NIS 25.8m for the six-month period.
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By GlobalDataThe company has so far seen revenue growth in the third quarter, which is in part due to increased consumption relating to the recent conflict in Israel.
“The fundamentals of our business are strong,” added Williger. “Our innovative approach to the rapidly expanding kosher food market continues to drive revenue and margin growth. In addition, we are executing our strategic plan to expand internationally. We look forward to the remainder of the year.”
