Castro expands activity overseas

Fashion chain more than tripled number of branches abroad, enjoys higher revenues in Q1 2006
Navit Zomer |
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The Castro fashion chain opened the year of 2006 with an increase of more than 20 percent in revenues and more than 30 percent in net profit.
Quarter one reports published Sunday reveal that sales in the first three months of the year totaled NIS 118.4 million (roughly USD 23.6 million), a 27 percent rise compared to the previous quarter.
Castro's operating profit stood at NIS 10.3 (roughly USD 2.35 million). In the first quarter, revenues from sales abroad reached 11.5 percent of total revenues, in comparison to 4.7 million over the same period last year.
The chain currently operates 31 franchise branches overseas, compared to only seven last year.
The company's net profit for the first quarter was NIS 7.4 million (roughly USD 1.6 million) which represents an increase compared to last year, when revenues amounted to NIS 5.5 (roughly USD 1.2 million).
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