Delta Galil open to M&A as profit grows
- Q4 earnings up 6%
- Sales grow 8%
Lingerie, sleepwear and sock manufacturer Delta Galil Industries said it remains open to strategic acquisitions as it booked an increase in fourth-quarter earnings and sales.
Net income, excluding non-recurring items, in the three months to the end of December rose to $15.3m, increasing 6% from the comparable amount a year ago.
Sales increased to $277.4m in the quarter, up 8% from the year ago period of 2013. Sales in original currency increased by 12%.
CEO Isaac Dabah, said: “As a global enterprise, we are capitalising on the growth potential of diverse markets around the world. Delta Galil is relentless in seeking new opportunities to innovate, grow and enhance our shareholder value.”
Dabah said the company is seeking new opportunities to “innovate, grow and enhance” shareholder value.
“In 2015, we expect to benefit from our newer relationships, such as Lacoste and Marc O’Polo, our first full year with Avia, and continued expansion of our Activewear business. At the same time, we are driving improvements in the production area, and will invest in a new facility in Vietnam to support growth in the coming years. In addition to organic growth, we remain open to strategic acquisitions that would leverage our expertise in design, production, marketing and our financial strength.”
For fiscal 2015, sales are expected to range between $1.06bn and $1.08bn, representing an increase of 3%-5%, equivalent to 7% to 9% in constant currency. Diluted EPS is expected to range between $1.88-$2.00.
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