ISRAEL: Delta Galil sees full-year profit soar
- Q4 net profit up 34% to US$8.3m
- Quarterly sales rose 15% to $176.4m
- FY profit rose 30% to reach US$27.4m
Apparel and lingerie maker Delta Galil has recorded soaring fourth-quarter and full-year profits, which the firm attributed to its investment in innovation.
The company said today (14 February) that for the year ended 31 December, net profit rose 30% to reach US$27.4m. Sales increased 9% over the period to reach $678.8m.
Over the fourth-quarter net profit was up 34% to US$8.3m as sales rose 15% to $176.4m.
The company said the gains were due to its continued investment in "innovative products" including seamless shapewear, its sock programme with Nike and bra programmes for leading brands.
"The growth and expansion strategy of Delta Galil proved itself again in 2011," said CEO Issac Dabah.
"Delta invested significant resources in research and development, in cooperation with the leading global brands, to grow sales to existing and new customers by developing innovative products and expanding the portfolio of products in the categories of shapewear, sportswear, bras and activewear.
"Our state-of-the-art technology, development expertise and ‘body-before-fabric' philosophy allow us to deliver product advances that appeal to consumers and stand out in the market.
"We also continue to grow in the Israeli market through our new chain of Delta Kids, and continue to invest in expanding the retail business. In addition, we recently signed an international license agreement with the prestigious Kenneth Cole brands in the categories of intimate apparel and socks for men and women."
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