Delta Galil Industries Ltd., a global manufacturer and marketer of branded and private label apparel products, leisurewear and activewear, has reported its financial results for the fourth quarter ended December 31, 2016. The company noted a rise of 31 per cent in sales to US $ 376.3 million as against US $ 287.1 million in the corresponding period last year.
In the reporting period, operating profit increased 80 per cent to US $ 32.3 million compared to US $ 17.9 million in the comparable period prior year. Net income in the quarter totalled US $ 18.5 million, up by 51 per cent from last year’s US $ 12.3 million.
In the full-year period 2016, sales amounted to US $ 1,179.2 million, witnessing a rise of 9 per cent from previous year’s sales of US $ 1,080 million. Operating profit in this period stood at US $ 85.3 million, up by 23 per cent. Continuing on the same path, net income of the company increased 16 per cent to US $ 18.5 million as against US $ 16 million in the comparable period prior year.
Isaac Dabah, CEO of Delta Galil stated, “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. Throughout the year, we remained focused on a number of operational and growth initiatives that improved our business segments and helped make us a more efficient company. We’ve upgraded our digital platform and increased our ecommerce market share by selling to wholesale customers such as Amazon, Zalando, and Otto.”