Delta Galil reports strong sales and profit growth in Q3

Delta Galil reported sales of 296.6 million dollars for the third quarter of 2016, compared to 284.6 million dollars for the same quarter last year, representing a 4 percent increase. Sales for the first nine months were up 1 percent to 802.8 million dollars compared to 792.9 million dollars in the same period of 2015. The company declared a dividend of 3.5 million dollars or 0.139 dollar per share.

In a company statement, Isaac Dabah, CEO of Delta Galil said, “We saw a strong contribution from our recent addition of DG Premium Brands, which includes 7 For All Mankind, Splendid and Ella Moss, and despite the expected soft US market, we experienced strong growth in Europe and Israel. Also during the quarter, we appointed retail and fashion leader Paula Schneider, who is renowned for building profitable businesses.”

Delta Galil posts rise in operating profit and net income

Operating profit increased 16 percent to 24.6 million dollars in the third quarter compared to 21.2 million dollars in the same quarter last year and for the first nine months, operating income was 53 million dollars against 51 million dollars for the same period last year, representing a 4 percent increase.

Net income was 17.7 million dollars in the third quarter, increasing 31 percent and diluted earnings per share were 0.69 dollars compared to 0.52 dollars for the same quarter last year. For the first nine months, net income was 33.3 million dollars or 1.30 dollars per diluted share compared to 31.7 million dollars or 1.23 dollars per diluted share for the same period of 2015.

EBITDA was 28.7 million dollars or 9.7 percent of sales in the third quarter compared to 27.1 million dollars or 9.5 percent of sales in the same quarter last year. For the first nine months, EBITDA was 67.8 million dollars or 8.4 percent of sales, compared to 65.8 million dollars or 8.3 percent of sales in the same period of 2015.

Picture:Ellas Moss