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G. Willi-Food International swings to profit in Q2

G. Willi-Food International Ltd. said its normalized net income for the second quarter was 6.5 million shekels, compared with a loss of 101,250 shekels in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 8.5% from negative 0.1% in the year-earlier period.

Total revenue grew 7.7% on an annual basis to 76.6 million shekels from 71.2 million shekels, and total operating expenses rose on an annual basis to 68.7 million shekels from 67.9 million shekels.

Reported net income came to 7.8 million shekels, or 59 agorot per share, compared to a loss of 152,000 shekels, or a loss of 1 agorot per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to 3.80 shekels.