YAVNE, Israel, January 13, 2014 /PRNewswire/ --
G. Willi-Food International Ltd. (NASDAQ: WILC) (the
"Company" or "Willi-Food"), a global company that
specializes in the development, marketing and international
distribution of kosher foods, today announced that it expects
revenue growth of approximately 17% for fiscal 2013 compared to
revenue in fiscal 2012, based on a preliminary assesment of the
financial results.
"In the 2013 fiscal year we were able to continue to attract new
customers as well as maintain our strong customer base by providing
quality products that have come to represent our brand," commented
Zwi Williger, Chairman of
Willi-Food. "We intend to continue the positive gains we have made
and continue developing our product line in the current fiscal
year."
The Company also announced the full repayment by C.D-B.A
Holdings (Designated) (2013) Ltd. ("C.D-B.A") of the
convertible loan of NIS 65 million
(approximately USD 18.3 million)
granted on November 28, 2013 in
connection with the proposed reorganization plan for IDB Holding
Corporation. The Company has also submitted a request from C.D-B.A
to receive the NIS 410 thouands
(approximately USD 120 thousands) in
accumulated interest owed to the Company under the terms of the
convertible loan agreement.
About G. Willi-Food International Ltd.
G. Willi-Food International Ltd. (http://www.willi-food.com) is
an Israeli-based company specializing in high-quality,
great-tasting kosher food products. Willi-Food is engaged directly
and through its subsidiaries in the design, import, marketing and
distribution of over 600 food products worldwide. As one of
Israel's leading food importers,
Willi-Food markets and sells its food products to over 1,500
customers in Israel and around the
world including large retail and private supermarket chains,
wholesalers and institutional consumers. The company's operating
divisions include Willi-Food in Israel and Gold Frost, a wholly owned
subsidiary who designs, develops and distributes branded kosher,
dairy-food products.
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 sales, 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: monetary risks including changes in marketable
securities or changes in currency exchange rates- especially
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, increase or decrease in global purchase prices of food
products, increasing levels of competition in Israel and other markets in which we do
business, 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 changes in
consumer preferences, our inability to protect our intellectual
property rights, our inability to successfully integrate our recent
acquisitions, insurance coverage not sufficient enough to cover
losses of product liability claims 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, 2012, filed with the
Securities and Exchange Commission on April
30, 2013. 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.
Raviv Segal, CFO
+972-8-932-1000
raviv@willi-food.co.il
SOURCE G. Willi-Food International Ltd.