Business
G. Willi-Food International Reports Improvements in Major Operational Parameters in Third Quarter 2019 Compared to Third Quarter 2018
YAVNE, Israel, Nov. 19, 2019 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ: WILC) (the "Company" or "Willi-Food"), a global company that
About this update from G. Willi-food International, Ltd.
[{"type":"text","content":" YAVNE, Israel, Nov. 19, 2019 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ: WILC) (the \"Company\" or \"Willi-Food\"), a global company that specializes in the development, marketing and international distribution of kosher foods, today announced its unaudited financial results for the third quarter ended September 30, 2019. \n \n \nThird Quarter Fiscal Year 2019 Highlights\nSales increased by 15.7% year-over-year to NIS 95.4 million (US$ 27.4 million). Gross profit increased by 16.8% year-over-year to NIS 29.8 million (US$ 8.6 million). Operating profit of NIS 12.6 million (US$ 3.6 million), or 13.2% of sales, compared to operating profit of NIS 10.5 million (US$ 3.0 million) in the comparable quarter of 2018. Net profit increased by 0.5% year-over-year to NIS 10.3 million (US$ 3.0 million), or 10.8% of sales. Net cash from operating activities of NIS 19.0 million (US$ 5.5 million). Cash and securities balance of NIS 284.1 million (US$ 81.6 million) as of September 30, 2019. Earnings per share of NIS 0.78 (US$ 0.22).Management Comment \nZwi Williger & Joseph Williger, Co-Chairmen of Willi-Food, commented: \"We are pleased to present the third quarter 2019 financial results, which show continued improvements in sales, gross profit and operating profit year-over-year for nine quarters in a row. According to retail data analytics provided by StoreNext Ltd[1], the Company recorded a higher growth rate in the first nine months of 2019 for \"sale out\" sales (in other words, sales to the final consumer) than any other Israeli food and beverage company, growing 31.2% compared to the average of such companies, which grew by 2.5%.\nWe are focusing on increasing the Company's market share in the food sector in Israel by entering new and emerging categories in the Israeli food market and by examining company acquisition opportunities. We believe that our growing business and other Company plans for the coming years will further improve Company results.\"\nThird Quarter Fiscal 2019 Summary\nSales for the third quarter of 2019 increased by 15.7% to NIS 95.4 million (US$ 27.4 million) from NIS 82.4 million (US$ 23.7 million) recorded in the third quarter of 2018. Sales increased primarily due to a redirection of resources to increase support for sales activity and an increase in the variety of Company products.\nGross profit ...