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G. Willi-Food International Ltd. reports developments tied to its kosher food import, marketing and international distribution business. The company operates directly and through subsidiaries, with food categories that include dairy and dairy substitutes, canned vegetables and pickles, canned fish, canned fruit, edible oils, cereals, rice, pasta and other products.
Recurring news focuses on annual and quarterly operating results, product availability, supplier terms, product mix, margins and cash dividend distributions. Company updates also describe its sales channels in Israel and abroad, including retail chains, private supermarkets, wholesalers and institutional customers, as well as activity at Willi-Food in Israel and Euro European Dairies.
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G. Willi-Food International Ltd. (NASDAQ: WILC) reported its fiscal year 2022 financial results, revealing a 9.7% increase in sales to NIS 498.3 million (USD 141.6 million) compared to NIS 454.2 million (USD 129.0 million) in 2021. However, operating profit decreased by 8.6% to NIS 45.1 million (USD 12.8 million) due to rising selling expenses. Gross profit rose 3.4% to NIS 143.1 million (USD 40.7 million), representing 28.7% of revenues. The company held NIS 267.4 million (USD 76.0 million) in cash, with no debt. CEO Joseph Williger highlighted plans for a new logistics center to enhance operations and expand product categories in 2023.
G. Willi-Food International Ltd. (NASDAQ: WILC) has received a building permit for a new refrigerated and frozen distribution center, with an investment of NIS 90 million (US$ 24.6 million). This center aims to enhance the company's storage capacity, supporting its growth and potential entry into new product categories. Located in location value="Yavne"Yavne, the center will be state-of-the-art, automating logistics and increasing operational efficiency. Co-Chairman Joseph Williger highlights this development as crucial for market expansion and logistics capabilities.
On January 17, 2023, G. Willi-Food International Ltd. (NASDAQ: WILC) announced the appointment of Joseph Williger as CEO, succeeding Erez Viner. Williger, a controlling shareholder and former Co-Chairman, will lead the company while Viner continues in business development and logistics. The CEO appointment awaits shareholder approval, with a meeting planned shortly. Willi-Food specializes in kosher foods, marketing over 600 products globally to around 1,500 customers. The company has emphasized its commitment to quality and the strategic expansion of its logistics capabilities through Viner's continued involvement.
G. Willi-Food International Ltd. (NASDAQ: WILC) has received a non-compliance letter from Nasdaq, informing the company that it failed to hold its annual shareholder meeting within the required timeframe. The letter, dated January 4, 2023, states that the company has until February 20, 2023, to submit a plan to regain compliance. If accepted, Nasdaq may grant an extension until June 29, 2023. Willi-Food specializes in kosher food products and distributes over 600 items globally.
G. Willi-Food International Ltd. (NASDAQ: WILC) has declared a cash dividend of approximately NIS 1.08 per share, totaling NIS 15 million (around US$4.386 million). The dividend is payable to shareholders on record as of December 6, 2022, with the payment date set for December 14, 2022. Final amounts may vary due to currency conversion from NIS to US dollars. Willi-Food specializes in kosher food products and operates a vast distribution network worldwide.
G. Willi-Food International Ltd. (WILC) reported strong third quarter results for 2022, with sales increasing by 16.6% to NIS 123.9 million (US$ 34.9 million), up from NIS 106.3 million (US$ 29.9 million) in Q3 2021. Gross profit rose 15.6% to NIS 34.1 million (US$ 9.6 million). Net profit saw a remarkable 46.1% increase, reaching NIS 7.6 million (US$ 2.1 million). However, operating income decreased by 9.3% for the first nine months of fiscal 2022. The company holds a cash and securities balance of NIS 292.5 million (US$ 82.6 million).
G. Willi-Food International Ltd. (NASDAQ: WILC) has declared a cash dividend of approximately NIS 1.44 per share, totaling around NIS 20 million (about US$6 million). This dividend will be payable on September 21, 2022 to shareholders of record as of September 13, 2022. The final amount in US dollars may vary based on the conversion rate at the time of payment. G. Willi-Food specializes in the marketing and distribution of kosher food products globally.
G. Willi-Food International Ltd. (WILC) reported its financial results for Q2 2022, showing a 7.7% increase in sales to NIS 123.2 million (US$ 35.2 million). Gross profit rose by 5.0% to NIS 38.8 million (US$ 11.1 million), while operating income increased 5.5% to NIS 14.5 million (US$ 4.1 million). However, net profit dropped by 56.6% to NIS 7.2 million (US$ 2.1 million). The company ended the quarter with NIS 305.5 million (US$ 87.3 million) in cash and securities.