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current news

Delta Galil Reports 19% Rise in 3q Profit


(Filed Under Financial and General Interest News). Net profit for Delta Galil Industries, Ltd. came to $7.7 million, up 19 percent from $6.5 million in the third quarter last year.

Earnings per share came to 32 cents, a 19 percent increase from 27 cents in the prior year’s period. Sales rose 9 percent to $184.8 million from $169.7 million in the third quarter, while year-to-date sales came to $502.4 million, up 8 percent from $466.9 million.

The company reported that this solid performance was driven by growth in every geographic region of operation: North America, the U.K., Europe and Israel. Delta Galil noted that lingerie, performance sport socks and men’s underwear performed especially well in the European markets. Sales grew 32 percent in Europe during the quarter, while U.K. sales rose 14 percent and North American sales grew 1 percent.

"This is the 10th consecutive quarter in which we have reported rising net profit, thanks to our continuing focus on innovation and enhanced customer service, leading to steady growth," stated Delta Galil C.E.O. Isaac Dabah. "We remain committed to an expansion strategy designed to make us a leader in intimate apparel and socks, as well as to drive continued strong growth in the future."

Dabah also stated that "negotiations with The Jones Group and the banks are continuing," confirming that Delta Galil is still in negotiations to acquire the jeanswear business and its related assets, and that the company expects "that the transaction will be finalized by the end of the year."

Global manufacturer and marketer Delta Galil Industries is based in Israel and was founded in 1975.


more Financial and General Interest News >>

Published 11-10-2011 by Katherine Rautenberg

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