Revenue Increased 12.0% to record ILS 313.2 million; Gross Profit Increased 14.5% to ILS 132.5 million CAESAREA, Israel, May 22, 2024 /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Summary Revenue increased 12.0% to ILS 313.2 million. Gross profit increased 14.5% to ILS 132.5 million. Comparable store sales increased 4.0%.   - Comparable store sales for the period January – April 2024 (no holiday timing impact) increased 10.3%. Adjusted Net income1 (attributable to shareholders) increased 24.1% to ILS 26.0 million. Adjusted EPS1 (attributable to shareholders) increased 23.8% to ILS 0.19. Adjusted EBITDA2 increased 16.8% to ILS 42.9 million. Ori Max, Chief Executive Officer, stated, "Our new fiscal year is off to a good start highlighted by revenue and adjusted EBITDA increasing in the low double digits and mid-teens on a percentage basis, respectively.  We continue to capture market share through new store development as well as our merchandising and pricing strategies which helped fuel a 10.3% increase in same store sales for the period January – April 2024. At the same time, we realized procurement, logistics and supply chain efficiencies, allowing to increase gross margin by 90 basis points and offset higher expenses related to our growing store base. We move forward with a strong balance sheet to support our future growth plans and continue our track record of returning value directly to our shareholders." First Quarter Results (2024 compared with 2023) Revenue increased 12.0% to ILS 313.2 million in the first quarter 2024 as compared with revenue of ILS 279.6 million in the first quarter 2023. The increase over the same period last year was largely attributable to the opening of new branches combined with a 4.0% increase in comparable store sales driven by higher store traffic and ...