Mineral water company Neviot - Nature of Galilee Ltd. (TASE: NVIO) posted NIS 91 million revenue for the second quarter of 2007, up 53% on the NIS 59 million for the corresponding quarter of 2006.
In the past year, the company has launched a number of bottled water ventures, including Neviot Plus (flavored water), and a five-liter bottle with a tap. Nevertheless, the company’s financial report for the second quarter states that all revenue growth came from its regular bottled water products, which account for 81% of total sales.
Neviot posted an operating profit of NIS 7.5 million for the second quarter (8.3% of turnover) and a net profit of NIS 5 million (6% of turnover), compared with an operating and net loss of NIS 500,000 for the corresponding quarter.
Neviot also increased its market share. Storenext reports that Neviot was Israel’s leading bottled water brand, with a 30.6% market share in the first half of the year in terms of revenue, compared with 24% in 2006. However, the company is only in third place in terms of quantity, with a market share of 23%, a figure that reflects the company’s higher prices.
Published by Globes [online], Israel business news - www.globes.co.il - on September 3, 2007
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