Israel-based lingerie, underwear and activewear manufacturer Delta Galil Industries saw both sales and earnings increase in its fourth-quarter thanks to the success of a number of growth initiatives.

For the three months to the end of December, earnings jumped 51% to US$18.5m compared to $12.3m in the same quarter last year. Excluding one-time items, earnings totalled $18.5m, an increase of 16% on $16m last year.

Delta Galil has been undertaking a number of operational and growth initiatives to improve its business segments and improve efficiency. The acquisitions of the 7 For All Mankind, Splendid, and Ella Moss brands have also helped drive growth, and form part of Delta Galil's strategic efforts to grow its branded business and expand its global footprint.

Sales in the quarter grew 31% to $376.3m from $287.1m in the year ago period. The increase reflects top-line growth in all key geographic regions, as well as the positive impact of Delta Galil's diversified portfolio, it said. This includes a "significant" increase in its branded activity, new businesses with strong global reach, and expansion of its retail activity in Israel and Germany.

"We are very pleased with our results for 2016, which concluded with a particularly strong fourth-quarter and reflected all-time high sales, operating profit and cash flow," says Isaac Dabah, CEO of Delta Galil.

"We've upgraded our digital platform and increased our e-commerce market share by selling to wholesale customers such as Amazon, Zalando, and Otto, while elevating sales on our proprietary Schiesser and Delta Israel websites. We also launched a new advanced digital platform for the 7 For All Mankind, Splendid and Ella Moss brands."

Looking ahead, the company says it remains committed to investing in new products and resources to drive sustained profitable growth and long-term shareholder value.

For fiscal 2017, Delta Galil is forecasting sales in the range of $1.33bn-$1.37bn, representing an increase of 13%-16% from 2016 actual sales of $1.18bn. Net income is expected in the range of $50m-$52m, representing growth of 6%-10% from 2016 actual net income of $47.2m.