G. Willi-Food Anticipates 45% Revenue Increase for First Quarter 2008 Over the Prior Year's Period
April 09 2008 - 11:09AM
PR Newswire (US)
YAVNE, Israel, April 9 /PRNewswire-FirstCall/ -- G. Willi-Food
International Ltd. (NASDAQ:WILC) (the "Company" or "Willi-Food"),
one of Israel's largest food importers and a single-source supplier
of one of the world's most extensive range of quality kosher food
products, today announced that it expects to report an
approximately 45% increase in revenues for the first quarter of
fiscal 2008 over the prior year's period. Mr. Zwi Williger,
President and COO of Willi-Food commented, "Willi Food is excited
to start the New Year on firm ground. The solid revenues achieved
in the quarter were, in part, attributable to our healthy organic
business, in addition to the strategic acquisitions whose revenues
are now fully recognized in the quarter. We expect our gross profit
and margins to have improved as compared to the latter half of
fiscal 2007." Mr. Williger continued, "We monitor the operating
environment closely and hope that it improves as the year
progresses. The addition of Shamir Salads and of the US import
license acquired from our Danish subsidiary are important
components that will help bolster our revenue stream in the coming
year. We remain optimistic and hope to provide an update with
respect to our operating and financial conditions during our first
fiscal quarter conference call which is expected to occur at the
end of May." About G. Willi-Food International Ltd. G. Willi-Food
International Ltd. is one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive ranges
of quality kosher food products. It currently imports, markets and
distributes more than 600 food products manufactured by some 120
top-tier suppliers throughout the world to more than 2,000
customers. Willi Food excels in identifying changing tastes in its
markets and sourcing high-quality kosher products to address them.
The Company also operated several subsidiaries: Gold Frost Ltd.
subsidiary develops and distributes kosher chilled and frozen dairy
food products internationally together with its Danish dairy
distributor subsidiary; Laish Israeli subsidiary and joint venture
with the Baron Family engage in the global import, export and
distribution of kosher products worldwide; Shamir Salads is a
leading international distributor of pre-packaged Mediterranean
foods. For more information, please visit the Company's website at
http://www.willi-food.co.il/. This press release contains
forward-looking statements within the meaning of safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
relating to future events or our future performance, such as
statements regarding trends, demand for our products and expected
revenues, operating results, and earnings. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied in those forward-looking statements. These
risks and other factors include but are not limited to: changes
affecting currency exchange rates, including the NIS/U.S. Dollar
exchange rate, payment default by any of our major clients, the
loss of one of more of our key personnel, changes in laws and
regulations, including those relating to the food distribution
industry, and inability to meet and maintain regulatory
qualifications and approvals for our products, termination of
arrangements with our suppliers, in particular Arla Foods, loss of
one or more of our principal clients, increasing levels of
competition in Israel and other markets in which we do business,
increases in raw materials costs, including of raw dairy products,
changes in economic conditions in Israel, including in particular
economic conditions in the Company's core markets, our inability to
accurately predict consumption of our products and risks associated
with product liability claims. We cannot guarantee future results,
levels of activity, performance or achievements. The matters
discussed in this press release also involve risks and
uncertainties summarized under the heading "Risk Factors" in the
Company's Annual Report on Form 20-F for the year ended December
31, 2006, filed with the Securities and Exchange Commission. These
factors are updated from time to time through the filing of reports
and registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking information contained in this press release.
Company Contact: G. Willi Food International Ltd. Yaron Levy, CFO
+972(8)932-1000 IR Contact: The Global Consulting Group Christopher
Chu +1-646-284-9426 DATASOURCE: G. Willi Food International Ltd
CONTACT: Company Contact: G. Willi Food International Ltd., Yaron
Levy, CFO, +972(8)932-1000, ; IR Contact: The Global Consulting
Group, Christopher Chu, +1-646-284-9426,
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