G Willi-Food Q2 Sales Rise 9.8%, Notes Margin Pressure On Higher Costs

Israeli-based company G Willi-Food International Ltd WILC reported second-quarter FY21 sales growth of 9.8% year-on-year, to $35.10 million.
Gross profit decreased 6.5% Y/Y to $11.3 million with a profit margin contracting 560 basis points to 32.3% mainly due to increased costs of imported products and increased shipping costs.
The operating margin was 12%, and operating income for the quarter fell 18.8% Y/Y to $4.2 million.
The company held $123.6 million in cash and equivalents as of June 30, 2021.
Net cash from operating activities for Q2 was $5.8 million.
EPS was $0.37, versus $0.35 prior year.
"Despite the challenging environment, the Company has succeeded to maintain a high level of sales and operational parameters for the second quarter of 2021," said Co-Chairmen Zwi Williger & Joseph Williger.
Price action: WILC shares closed higher by 1.97% at $23.29 on Friday.