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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) has announced a private placement to raise approximately NIS 42.9 million (around $12.79 million) from Israeli institutional and accredited investors. The placement involves issuing 650,000 ordinary shares at a price of NIS 66 (approximately $19.67) each, along with warrants with an exercise price of NIS 73 (approximately $21.76). The closing of this transaction is subject to regulatory approvals expected in September 2020. This placement aims to strengthen the company's financial position and support its kosher food distribution operations.
G. Willi-Food International Ltd. (NASDAQ: WILC) reported its second-quarter financial results for 2020, showcasing solid growth despite the pandemic's impact. Sales rose by 4% to NIS 104.2 million (US$ 30.1 million), while gross profit surged by 32.4% to NIS 39.5 million (US$ 11.4 million). Operating profit increased by 71.3% to NIS 16.9 million (US$ 4.9 million), translating to 16.2% of sales. Net profit climbed by 34.1% to NIS 15.2 million (US$ 4.4 million). The company maintained a robust cash position with NIS 282.2 million (US$ 81.4 million) in cash and securities as of June 30, 2020.
G. Willi-Food International Ltd. (NASDAQ: WILC) announced a conference call for its second quarter earnings on August 4, 2020, at 8:30 AM ET. The press release corrected previously inaccurate call-in numbers released on July 27, 2020. The correct dialing options include local numbers for Israel, international access, and a toll-free number for the USA. Willi-Food specializes in marketing kosher food products and operates over 600 items through extensive distribution channels.
G. Willi-Food International Ltd. (NASDAQ: WILC) announced that it will release its second quarter 2020 financial results on August 3, 2020. A conference call is scheduled for August 4, 2020, at 08:30 a.m. ET, for investors to discuss the results. The company specializes in kosher foods and distributes over 600 products worldwide, serving more than 1,250 customers. Willi-Food operates in Israel and through its subsidiary, Euro European Dairies Ltd.