G. Willi-Food International Reports 9% Increase In Sales And A Record High Annual Sales In 2023
Portfolio Pulse from Benzinga Newsdesk
G. Willi-Food International Ltd. (NASDAQ:WILC) reported a 9% increase in sales for fiscal year 2023, reaching a record high despite a decrease in gross and operating profit. The company faced challenges such as the appreciation of the Israeli shekel, worldwide increase in goods prices, and increased transport costs due to military conflicts. Despite these, Willi-Food expanded its product range and improved product visibility, and is working on improving commercial terms and constructing a new logistics center to support growth.
March 21, 2024 | 1:08 pm
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G. Willi-Food International Ltd. (NASDAQ:WILC) reported a 9% increase in sales for FY 2023, reaching a record high. Despite facing challenges like increased transport costs and worldwide price hikes, the company managed to expand its product range and improve visibility. The ongoing construction of a new logistics center is expected to further support growth.
The record high sales in 2023 indicate a strong performance and potential for growth, despite the decrease in gross and operating profit. The company's efforts to expand its product range and improve visibility, along with the construction of a new logistics center, are positive indicators for future growth. However, the challenges mentioned, such as increased transport costs and the impact of military conflicts, could pose risks to profitability in the short term.
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