2023-12-03 16:23:00
Pelram, a leading company in the plastic industry, has reported impressive results for the third quarter of the year. The company’s revenues saw a significant increase, amounting to NIS 439.1 million compared to NIS 415.8 million in the corresponding quarter, marking a 5.5% increase. Additionally, the gross profit also showed a substantial improvement, reaching NIS 172.5 million, representing 39% of revenues, compared to NIS 128.3 million (30.8% of revenues) in the corresponding quarter, reflecting a notable 34.5% increase.
Moreover, the operating profit saw a considerable rise, reaching NIS 65.2 million compared to NIS 28.6 million in the corresponding quarter, indicating an increase of 17.5%. The net profit also saw a significant jump, reaching NIS 51.6 million, almost five times the corresponding quarter in which the net profit amounted to NIS 11.3 million.
Pelram’s total capital currently stands at NIS 1.7 billion, with the stock trading at a value of NIS 925 million, indicating that Pelram trades at 0.54 on the capital. Furthermore, the company has also entered into an agreement with the Pedgo Plastic company to purchase its operations for a total amount of NIS 30 million. This strategic acquisition is expected to be completed by the end of 2023.
In light of the recent Iron Swords War, Pelram has stated that its activities in Israel and abroad continue as usual, without substantial difficulties in operational and functional continuity. However, the company has acknowledged the existing uncertainty regarding the duration of the war and its potential consequences on their activities and business results. The company noted that as the security situation worsens, it may have a negative effect on their activities and results, including the possibility of production interruptions and the inability to export goods from the ports.
Overall, Pelram’s third-quarter results showcase a strong performance and resilience amid challenging external factors. The company’s ability to maintain growth and profitability amidst a complex operating environment reflects its robust business strategies and operational strength.
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