PRIVATE label manufacturer Delta Galil, that diversified into branded business when it acquired the Schiesser underwear concern, attributed to strong sales of branded products the 6 per cent rise in sales achieved in 2014. This boosted sales to USD 1.031bn, generating operating income that was up by 9 per cent, to USD 74.4m, and net profit of USD 48.4m excluding non-recurring items. CEO Isaac Dabah commented: “Our progress included double-digit top-line growth and improved profitability for Delta USA, higher sales and EBIT at Delta Israel, and solid sales growth and higher EBIT in our Schiesser business in Europe. We also continued to add or expand several lines, including the introduction of Avia branded sports products in Walmart, and new joint ventures in socks and seamless products. And we have added significant management talent in areas that will drive our future growth. Delta Galil is relentless in seeking new opportunities to innovate, grow and enhance our shareholder value. In 2015, we expect to benefit from our newer relationships, such as Lacoste and Marc O’Polo, our first full year with Avia, and continued expansion of our Activewear business. At the same time, we are driving improvements in the production area, and will invest in a new facility in Vietnam to support growth in the coming years. In addition to organic growth, we remain open to strategic acquisitions that would leverage our expertise in design, production, marketing and our financial strength.”
Barring unexpected developments, the company should take much less time in reaching its second billion of sales than it did for the first.