ISRAEL: Delta Galil reveals strong Q2 growth
- Q2 earnings reach $9.8m
- Sales grow 6% to $249.2m
Apparel maker Delta Galil Industries has recorded a "solid" second-quarter thanks to strategies implemented to diversify its portfolio, innovation and a strengthening of its financial resources.
In the three months to the end of June, earnings amounted to US$9.8m. This compared to $8.8m in the year ago period.
Sales were up 6% to $249.2m from $234.4m last year. The company said it recorded sustained organic growth across nearly all of its business segments.
"We are well on the way to our first $1bn sales year, and in fact have already reached that milestone during the four quarters ended 30 June," said CEO Isaac Dabah.
"The solid performance of Delta Galil is the product of sharply focused strategies to diversify our portfolio, invest in innovation, and strengthen our financial resources. Our decision to expand the branded business has also led to meaningful margin improvement. And our capacity to continue this profitable growth is supported by a strong balance sheet."
Lingerie, sleepwear and sock manufacturer Delta Galil has expanded its international deployment of Infor M3 enterprise resource planning (ERP) software in a six-figure deal....
Most of the company’s aspirations are on a global scale. Within the domestic market, Delta Galil is focusing on categories with higher profit margins, such as childrenswear or sportswear....
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During the review period the childrenswear category witnessed an increase in the presence of international and Israeli players, both new and established operators, offering a large variety of products...
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In 2012 the apparel category posted consistent growth in volume terms as a result of the growing awareness of fashion trends and the accessibility of new brands. However, in value terms, growth slowed...
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This report provides an update of business news in the following categories: acquisitions, divestments and mergers; corporate social responsibility (CSR); financial results; international trade policy...
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