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Willi-Food Investments Q3 profit falls YOY

Willi-Food Investments Ltd. said its third-quarter normalized net income amounted to 8 agorot per share, a decline of 77.3% from 34 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.0 million shekels, a decline of 77.2% from 4.5 million shekels in the prior-year period.

The normalized profit margin declined to 1.3% from 5.8% in the year-earlier period.

Total revenue fell 7.6% year over year to 70.7 million shekels from 76.6 million shekels, and total operating expenses fell 5.8% on an annual basis to 66.3 million shekels from 70.3 million shekels.

Reported net income declined 71.4% from the prior-year period to 1.6 million shekels, or 12 agorot per share, from 5.5 million shekels, or 42 agorot per share.

As of Nov. 22, US$1 was equivalent to 3.87 shekels.