Castro: Reopening the economy increased revenues by 21% to 424 m

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Reports a 20% increase in revenues to NIS 424 million, compared to NIS 353 million in the corresponding quarter last year. The increase is due to the reopening of the economy. In the corresponding quarter, the company lost 13 working days.

On the other hand, operating profit fell to NIS 44 million, compared with NIS 67.7 million, a decrease of 35%, due to the fact that in the corresponding quarter last year the company sold a real estate property and recognized a profit of NIS 34 million. .

Net profit fell by 47% to NIS 22 million, compared with NIS 41.3 million in the corresponding quarter, which resulted from the same realization. In neutral, this is an increase of NIS 15 million.

Cash flow from operations in the quarter increased to NIS 41.4 million, compared with NIS 17.8 million in the corresponding quarter.

The company currently has 370 stores and stalls in Israel as well as 18 stores and stalls abroad.

By sector:
Sales in the same stores increased by 6.8% to NIS 362.9 million, compared with NIS 339.9 million in the corresponding quarter. Sales in the same stores in the fashion and clothing sector in the third quarter rose by 9.6% to NIS 246.3 million, compared with NIS 224.7 million last year. The company also reports that the average monthly revenue per square meter increased in the third quarter of 2021 to NIS 1,285, compared with NIS 1,175 in the corresponding quarter last year.

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Ron Rotter, CEO of the Castro-Hoodies Group, said in light of the reports: “The company continues to grow following the merger of the group and the streamlining processes that have taken place. Profit for the quarter was affected by an expense of more than NIS 10 million in new growth engines in the quarter, including the launch of the CASTRO HOME design and lifestyle chain. “In the Grand Mall in Petah Tikva, and another 1,500-square-meter store in Rehovot. In the coming months, we will also launch the Urbanica Station.”

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  • 1.

    Anyone else really buying these poor Chinese goods? (LT)




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