29th May 2015 09:11
LONDON (Alliance News) - BSD Crown Ltd Friday posted a swing to a pretax profit in its first quarter due to a big step up in revenue, following its acquisition of a controlling stake in Willi-Food Investments Ltd last May.
For the quarter to end-March the company posted a pretax profit of USD76,000, swung from a pretax loss of USD886,000 a year before, on revenues of USD22.5 million compared to USD28,000.
Israel-based BSD Crown used to be a mobile technology and software company called Emblaze, but switched focus after it acquired a controlling stake in Willi-Food last year. Its main activity is now the importing, marketing and distribution of food products to retail chains, supermarkets, wholesalers and institutions mainly in Israel.
Shares in BSD Crown are trading down 4.0% at 21.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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