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Delta Galil FY19 net sales rise 13%

29
Feb '20

Pic: Delta Galil

Delta Galil, the global manufacturer of branded and private label apparel products for men, women and children, reported 11 per cent record sales of $504.8 million in the fourth quarter (Q4) FY19. Sales for the complete fiscal FY19 that ended on December 31, 2019 increased 13 per cent to $1,690.2 million, from $1,498.4 million in FY18, as company reported.

Operating profit increased 36 per cent to $52.2 million in the fourth quarter compared to $38.4 million in same quarter prior year. For the 2019 full year, operating profit increased 29 per cent to $103.7 million compared to $80.7 million in FY18.

Net income increased 44 per cent to $35.6 million in Q4 FY19, compared to $24.7 million in the same quarter FY18. For full FY19, net income increased 20 per cent to $57.7 million from $48.2 million in FY18.

Delta Galil in its initial guidance for FY20 estimates the negative impact of the corona virus on its first half of FY20. Sales for FY20 are expected to range between $1,740 million-$1,770 million, representing an increase of 3-5 per cent from FY19 actual sales of $1,690.2 million, as company reported. Net income for FY20 is expected to range between $57 million - $62 million.

Fibre2Fashion News Desk (JL)

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