G. Willi-food International Ltd (Nasdaq: WILCF; Warrants: WLWF) today reported its unaudited financial results for the second quarter and six months ended June 30th, 2000.

Total sales for the six months ended June 30th, 2000, increased by 1% to NIS 72,486,000 (USD 17,749,000) from NIS 71,965,000 (USD 17,621,000) for the same period in 1999.

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Gross profit increased by 7% to NIS 20,533,000 (USD 5,028,000) from NIS 19,260,000 (USD 4,716,000) for same period last year.

Operating income for the six months ended June 30th, 2000 decreased by 1% to NIS 11,116,000 (USD 2,722,000) from NIS 11,198,000 (USD 2,742,000) for the same period in 1999.

Net income for six months ended June 30th, 2000 decreased by 0.3% to NIS 7,590,000 (USD 1,859,000) from NIS 7,614,000 (USD 1,864,000) for the same period last year.

The basic earning per share for the six months ended June 30th, 2000 was NIS 1.77 (USD 0.43).

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G. Willi-food International Ltd, is engaged in the import, marketing and distribution of over 200 food products, including canned vegetables, pickled olives and other pickled vegetables, packaged fruit, canned and frozen fish, edible oil, dried fruit and nuts, coffee creamers, jams, halva, pasta, tahini, butter cookies and pastries, certain dairy products and certain frozen or chilled products. The company believes that it is one of the leading importers in Israel of such broad range of imported food products. The company sells products with widespread demand in the Israeli marketplace, as well as products that cater to more select groups. 

                       G. WILLI-FOOD INTERNATIONAL LTD.
                     CONDENSED CONSOLIDATED BALANCE SHEETS
                         (Adjusted to NIS of June 2000)
 
                                                                 Convenience
                                                                 translation
                               Adjusted New Israeli Shekels   into U.S. Dollars
                                    June 30,       December 31,     June 30,
                                     2000             1999            2000
                                                  In thousands
     ASSETS
 
     Current assets
      Cash and cash equivalents        5,770          15,681         1,413
      Marketable securities           17,167           4,899         4,203
      Receivables:
       Trade                          31,145          22,617         7,626
       Other and prepaid expenses      2,363           2,981           579
       Related parties
      Inventories                     14,583          15,152         3,571
     Total current assets             71,028          61,330        17,392
 
     Property and equipment, net       2,547           2,557           624
 
     Other assets, net                   805             797           197
                                      74,380          64,684        18,213
 
     LIABILITIES AND
      SHAREHOLDERS' EQUITY
 
     Current liabilities
 
     Payables:
      Trade                            9,020           8,437         2,208
      Related parties                  1,077           3,096           264
      Other and accrued expenses       5,038           1,503         1,235
     Total current liabilities        15,135          13,036         3,707
 
     Accrued severance pay                67              74            16
 
     Shareholders' equity             59,178          51,574        14,490
                                      74,380          64,684        18,213
 
                        G. WILLI-FOOD INTERNATIONAL LTD.
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                         (Adjusted to NIS of June 2000)
 
                                 Adjusted              Convenience Translation
                             New Israeli Shekels          into U.S. Dollars
                           Six months Three months     Six months  Three months
                                ended June 30,             ended June 30,
                        2000       1999    2000     1999      2000     2000
 
 
     Sales             72,486     71,965  29,037   39,422    17,749    7,110
 
     Cost of sales     51,953     52,705  20,131   28,805    12,721    4,929
       Gross profit    20,533     19,260   8,906   10,617     5,028    2,181
 
     Selling expenses   4,605      3,369   2,665    1,674     1,128      652
 
     General and
     administrative
      expenses          4,812      4,693   2,092    2,417     1,178      512
 
     Total operating
      expenses          9,417      8,062   4,757    4,091     2,306    1,164
 
       Operating
        income         11,116     11,198   4,149    6,526     2,722    1,017
 
     Financial income
      (expenses), net     515        698    (344)    (369)      126      (85)
 
     Other expenses, net   --        (26)     --      (26)       --       --
 
     Income before taxes
      on income
                       11,631     11,870    3,805   6,131     2,84       932
 
     Taxes on income    4,041      4,256   1,457    2,293       989      357
 
     Net income         7,590      7,614   2,348    3,838     1,859      575
 
     Earnings per share
      data               1.77       1.84    0.55     0.92      0.43     0.13
 
     Earnings per share:
      Basic
 
      Diluted            1.77       1.78    0.55     0.90      0.43     0.13
 
     Shares used in computing
      earnings per ordinary share:
 
     Basic     4,277,500  4,147,500  4,277,500  4,147,500  4,277,500  4,277,500
 
     Diluted   4,277,500  4,277,500  4,277,500  4,277,500  4,277,500  4,277,500