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Willi-Food Investments Q1 profit climbs YOY

Willi-Food Investments Ltd. said its normalized net income for the first quarter was 17 agorot per share, a gain from 7 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.3 million shekels, a gain from 942,380 shekels in the prior-year period.

The normalized profit margin rose to 2.8% from 1.1% in the year-earlier period.

Total revenue fell on an annual basis to 82.7 million shekels from 86.3 million shekels, and total operating expenses fell 11.4% on an annual basis to 74.8 million shekels from 84.4 million shekels.

Reported net income increased from the prior-year period to 3.2 million shekels, or 24 agorot per share, from 1.3 million shekels, or 10 agorot per share.

As of May 31, US$1 was equivalent to 3.85 shekels.