Castro Hoodies Secures NIS 30 Million Investment from Institutional Investors

Castro Hoodies, a leading Israeli fashion group, has successfully raised NIS 30 million from institutional investors, issuing 3.5% of the company’s shares in return. The funding round was managed by Leader Capital Markets, with notable investors including Mor Investment House, IDEA Hedge Fund, Phoenix Insurance, and Menora Mivtachim.

• Mor Investment House contributed NIS 16 million—with NIS 12 million allocated from provident and pension funds and NIS 4 million from mutual funds.
• IDEA Hedge Fund invested NIS 4 million, while Phoenix Insurance and Menora Mivtachim contributed NIS 3 million and NIS 2.6 million, respectively.

Strong Q3 Performance with 12% Revenue Growth

For the third quarter of 2024, Castro reported a 12% increase in revenues, reaching NIS 507 million, compared to the same quarter in 2023. The growth was reflected across several financial metrics:

• Gross profit grew by 9%, reaching NIS 286 million.
• Operating profit surged 49%, totaling NIS 41 million.
• On the bottom line, the company achieved a 28% increase in net profit, which amounted to NIS 17 million.

Stock Performance and Market Valuation

Castro Hoodies is currently valued at NIS 900 million. The company has seen an impressive 160% increase in its stock price over the past year, reflecting investor confidence in its continued growth and market potential.