Yavne, Israel, April 9 - G. Willi-Food International Ltd. (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.