The bottled water company's net profit quadrupled in 2007.
Neviot - Nature of Galilee Ltd. (TASE: NVIO) will invest €20 million to double production at its bottled water facility in Kiryat Shmona. One production line will focus on the production of bottled water and the other on Neviot Plus line of flavored water beverages.
Neviot CEO Hezi Ovadia said, "The products that the company launched in the past two years, both in the area of home and office water coolers and in the area of bottled water, have been the company's main growth engines, in addition to the natural growth of the market. Our facility has reached full production capacity, and we're now preparing for the future."
Neviot posted NIS 363 million revenue in 2007, up 45% on the NIS 259 million in 2006. Net profit more than quadrupled to NIS 27.8 million. 80% of the company's business is bottled water and the rest is home and office water coolers.
Published by Globes [online], Israel business news - www.globes-online.com - on March 26, 2008
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