Brill Group’s first quarter reports for 2022 prove that the moves it has completed over the past few years and during the coronavirus period in particular are continuing to bear fruit, the company said Tuesday.
Brill's sales in the quarter amounted to NIS 124 million, compared with NIS 98 million in the corresponding quarter in 2021, an improvement of 27%.
The group had poor results due to the lockdown in the first quarter of 2021, but saw a significant rise during the first quarter of 2022 even with the spread of the Omicron strain. And despite the Passover holiday taking place this year in the second quarter compared to the first quarter in 2021, Brill was able to show an improvement in sales in the first quarter.
Brill ended its operating profit line with a profit of NIS 11.4 million this year, compared with NIS 11.7 million in the corresponding quarter of 2021.
In net profit, Brill ended with a profit of NIS 7.4 million this year compared to a profit of NIS 8.1 million in the quarter, mainly due to expenses of exchange rate differences. In 2021, Brill finished with a net profit of NIS 49 million.
Brill has also renewed agreements with the owners of the Timberland and Nine West brands, which also include an improvement in the commercial conditions granted to the group. This is in addition to the renewal of the Nautica agreement for another 20 years, which includes a number of options, which was completed in 2021.
"The group has been showing good profitability for a long time, in parallel with an increase in the sales line, and an improvement in the rest of the operating indices."Shachar Turjeman, Brill Group chairman