date:Jun 02, 2012
The company noted that the sales growth was driven by the introduction of new products and by the timing of the Passover festival, which fell during the first quarter of this year.
Gross profit for the first quarter of 2012 decreased by 12.8% to NIS15.7m ($4.2m) compared to the previous year. First quarter gross margin was 21.3% compared to gross margin of 25.6% for the same period in 2011.
The decrease in gross profit and gross margins was primarily due to increase in global prices of food pr