Delta Galil, Credit Lines lose.(Delta Galil Industries)

Israel Business Today, December, 1995

Delta Galil Industries reported a dramatic decline in third-quarter net profits which plunged to NIS 385,000, compared with NIS 7.32 million in the same quarter of 1994. Revenues rose from NIS 194 million to NIS 200 million, while earnings per share dropped from NIS 0.53 to NIS 0.03.

Nine-month net profits fell from NIS 7.38 million in the first three quarters of 1994 to NIS 2.25 million this year.

A spokesperson blamed the poor performance on increased labor costs and thread prices, and the high value of the shekel which adversely affected the company's exports.

Meanwhile, Credit Lines posted third-quarter net losses of NIS 22.6 million compared with third-quarter net profits of NIS 3.2 million last year.