Willi-Food has posted a fall in half year sales and profits

Willi-Food has posted a fall in half year sales and profits

G. Willi-Food has reported a drop in sales and profits for the first half of the year contributed to by "continued cautious buying patterns" among Israeli consumers seen in the second quarter.

Net income for the first half fell 78.5% to NIS5.3m (US$0.7m). Operating income fell 55.9% to NIS5.3m and sales decreased 9.7% to NIS157.4m.

During the second quarter the firm reported a net loss of NIS0.2m and a fall in operating profit of 42.1% to NIS3.2m. Sales fell 10.1% to NIS71.2m

Co-chairman of Willi-Food, Zwi Williger, said sales and profit margins in the quarter were "negatively affected by continued cautious buying patterns demonstrated by our customers, and the increasingly competitive Israel food retail sector".