|
News |
|
FOR IMMEDIATE RELEASE
G. WILLI-FOOD ANTICIPATES 45% REVENUE INCREASE FOR
FIRST QUARTER 2008 OVER THE PRIOR YEAR'S PERIOD
YAVNE, ISRAEL - APRIL 9, 2008 - 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 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
yaron@willi-food.co.il
IR CONTACT:
THE GLOBAL CONSULTING GROUP
Christopher Chu
(646) 284-9426
cchu@hfgcg.com