Castro-Hoodies Group: Revenues in the second quarter of 2021 jumped by 56% to NIS 439 million

The Castro-Hoodies Group today publishes its financial statements for the second quarter of 2021. The company presents record results in the second quarter and first half of 2021 with an improvement in operating parameters. Like other public companies that have recently published their second quarter reports, Castro-Hoodis also benefited from the release of the economy from the Corona restrictions and presents excellent data for the said quarter.
The Group's revenues in the second quarter of 2021 jumped by 56% to NIS 439 million, compared with revenues of NIS 281 million in the corresponding quarter last year.
The company made an operating profit of NIS 108.5 million in the first half of 2021, compared with a loss of NIS 24 million.
The company presents a record for the quarter in net profit amounting to NIS 50 million, compared with a net profit of NIS 33 million in the corresponding quarter last year. The company's cumulative net profit amounted to NIS 65 million in the first half of 2021 - an all-time record.
The total net cash arising from current operations in the second quarter of 2021 increased to NIS 123 million, compared with net cash arising from current operations in the amount of NIS 99.5 million in the corresponding period last year.
As of the date of publication of the report, the group's chain of stores has 374 stores and stalls in Israel, as well as 21 stores and stalls abroad. Ron Rotter, CEO of the Castro-Hoodis Group: “We are proud to end the second quarter of 2021, with improvement A net profit of NIS 50 million for the second quarter and a cumulative profit of NIS 65 million in the first half, more than any other full year in the company's past.
We show in this quarter a positive jump in the ratio of capital to balance sheet to a rate of 57% and significant growth in the clothing sector. Yes, we continue to develop the "Urbanica" fashion brand with the launch of a new flagship store in the Grand Mall in Petah Tikva, which opened yesterday.
In addition, the Castro Hoodies Group has added significant new players to its ranks with the addition of the beloved brands Adidas and the Baby Star chain, which are joining as partners in the buying brand of the group marketed to the institutional market.
These results are a direct result of the maturing strategy of the Castro Hoodies Group, and the continued activity of the Group's brands to expand and grow. "
Rotter added: "These days we are on the eve of the launch of the new CASTRO HOME chain of stores - the housewares and lifestyle chain from Castro.
The chain of stores under the new CASTRO HOME brand joins and completes the mix of the group's strongest brands, all located nationwide, as well as each of them one of the most advanced Ecom website in the world, with the Castro fashion brand considered one of the leading sites in Israel.