The fashion company
Castro
-0.09%
Base:11,700
opening:11,700
High:11,700
low:11,260
change:192,439
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, Reports a strong fourth quarter, revenues grew by 68% to NIS 474 million, compared with revenues of NIS 282 million in the corresponding quarter last year. Gross profit in the fourth quarter of 2021 grew by 87% to NIS 267 million, compared with a gross profit of NIS 143 million in 2020. Operating profit in the fourth quarter jumped to NIS 49 million, compared with NIS 25 million in the quarter The equivalent in 2020. The net profit in the fourth quarter of 2021 amounted to NIS 21 million, compared with a net profit of NIS 0.4 million in the corresponding quarter last year.
Sales in the same stores throughout the group in the fourth quarter of 2021 increased by 4.4% to NIS 437 million, compared with NIS 419 million in the fourth quarter of 2019 (comparison for 2019 is about the corona and its closure). Sales in the same stores in the fashion and clothing sector increased by 4% to NIS 344.8 million in the fourth quarter, compared with NIS 332.2 million in the fourth quarter of 2019.
During the year, the home design chain was launched – ‘Castro HOME’, which has 15 stores nationwide and the opening of 2 more stores, as well as a dedicated online website. forward, The company is considering an IPO on the Tel Aviv Stock Exchange of the activities of its subsidiary Urbanica.
How will the recovery of the aviation industry starting in the last quarter of 2021 and the return of Israelis to flights and clothing purchases outside the borders of Israel affect the company’s profitability? We will have to wait for the first quarter reports of 2022.
In the whole of 2021, The group’s revenues for 2021 increased by approximately 33% and amounted to approximately NIS 1.6 billion, compared with revenues of approximately NIS 1.2 billion in the corresponding period last year. Gross profit in 2021 grew by 44% to NIS 950 million, compared with a gross profit of NIS 661 million in 2020. Operating profit in 2021 jumped by about 196% to about NIS 201 million, compared to operating profit of about NIS 68 million in 2020. The company made a net profit in 2021 in the amount of about NIS 108 million compared to a loss of about NIS 108 million. NIS 11 million in 2020. The value of net cash arising from current operations was estimated in 2021 at a value of approximately NIS 257 million, compared with approximately NIS 137 million in 2020.
Sales in the same stores in the entire group in 2021 increased by about 10% to about NIS 1.36 billion, compared to about NIS 1.2 billion in 2019. Sales in the same stores in the fashion and clothing sector in 2021 grew by 10.1% to NIS 1.01 billion compared to NIS 922 million in 2019. The average monthly revenue per square meter increased in 2021 to NIS 1.4 billion compared to NIS 1.2 billion in 2019.
Ron Rotter, CEO of the Castro Group said: “The Castro Group concludes 2021 and the fourth quarter of this year, with record results reflecting its continued leadership in the fashion and lifestyle market in Israel, while preserving business results that are the result of implementing the Group’s multi-year strategy. We are currently establishing and strengthening the subsidiary Urbanica is even considering issuing its shares for the first time on the Tel Aviv Stock Exchange. We continue to invest in the group’s growth engines and develop its brands. ”
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