G. Willi-Food International Ltd. announced its unaudited financial results for the third quarter ended September 30, 2024, reporting a 23.3% increase in sales to NIS 152.8 million (US$ 41.2 million) compared to NIS 123.9 million in the third quarter of 2023. Gross profit saw a substantial rise of 78.3% to NIS 42.0 million (US$ 11.3 million), reaching 27.5% of revenues.
Operating profit for the quarter surged by 3,401.4% to NIS 17.6 million (US$ 4.7 million) from NIS 0.4 million in the prior year's quarter, primarily driven by the increase in gross profit. Net profit for the third quarter was NIS 20.8 million (US$ 5.6 million), or NIS 1.5 (US$ 0.4) per share, a significant increase from NIS 4.9 million (US$ 1.3 million), or NIS 0.4 (US$ 0.1) per share, in Q3 2023.
For the first nine months of 2024, sales increased by 7.7% to NIS 435.5 million (US$ 117.4 million), and net profit rose to NIS 46.2 million (US$ 12.5 million), or NIS 3.3 (US$ 0.9) per share. The company ended the third quarter of 2024 with NIS 225.7 million (US$ 60.8 million) in cash and securities, and continues construction of a new logistics center expected to be completed in the second half of 2025.
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