G. Willi Food-International Ltd. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 27, 2017 at 07:28 am EST
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G. Willi Food-International Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported Sales increased 13.3% to ILS 80,041,000 against ILS 70,621,000 last year. Operating profit decreased 35.8% to ILS 8,263,000 against ILS 4,838,000 last year. Income before taxes on income was ILS 10,879,000 against ILS 5,462,000 last year. Profit for the period was ILS 8,188,000 or ILS 0.62 per basic and diluted share against ILS 4,464,000 or ILS 0.34 per basic and diluted share last year. Net cash from operating activities was ILS 31,005,000 against ILS 2,759,000 last year. Acquisition of property plant and equipment was ILS 609,000 against ILS 147,000 last year. The increase in sales was primarily due to a strike at the Ministry of Health in the third quarter of 2016 which limited release of goods from the port and caused a decrease of ILS 6 million in sales in the third quarter of 2016 offset by an increase in sales due to and various sales promotions in the third quarter of 2017.
For the nine months, the company reported sales increased 4.3% to ILS 239,771,000 against ILS 229,849,000 last year. Operating income decreased 35.8% to ILS 13,277,000 against ILS 20,684,000 last year. Income before taxes on income was ILS 17,707,000 against ILS 22,155,000 last year. Profit for the period was ILS 14,054,000 or ILS 1.06 per basic and diluted share against ILS 16,957,000 or ILS 1.28 per basic and diluted share last year. Net cash used in operating activities was ILS 5,266,000 against net cash from operating activities ILS 16,500,000 last year. Acquisition of property plant and equipment was ILS 2,202,000 against ILS 1,828,000 last year. The increase in sales was primarily due to a strike at the Ministry of Health in the third quarter of 2016 which limited release of goods from the port and caused a decrease of NIS 6 million in sales in the corresponding period last year offset by an increase in sales due to and various sales promotions in the third quarter of 2017.
G. Willi-Food International Ltd. is a holding company. The Company is engaged directly and through subsidiaries, in the development, import, export, marketing and distribution of a range of over 600 food products around the world. The principal products in the import segment product line include Canned Vegetables and Pickles, Canned Fish, Canned Fruit, Edible Oils, Dairy and Dairy Substitute Products, Dried Fruit, Nuts and Beans, and Other Products. Its brands include Willi-Food, Gold-Frost, Gold Food, Tifeeret, Donna Rozza, Completa, Raskas and Del Monte, among others. The Company's products are marketed and sold to approximately 1,500 customers throughout Israel and outside of Israel. The Company's customers generally fall within one of the two groups, including retail supermarket chains in the organized market, and private supermarket chains, mini-markets, wholesalers, food manufacturers, institutional consumers, such as catering halls, hotels, hospitals and food producers.
G. WILLI-FOOD INTERNATIONAL LTD. 
