Alon Holdings Blue Square - Israel Ltd. Announces Financial Results For The Fourth Quarter Of 2011 And The Year Ended 2011

ROSH HA'AYIN, Israel, March 22, 2012 /PRNewswire/ --

Alon Holdings Blue Square-Israel Ltd. (NYSE and TASE: BSI) today announced its financial results for the year and fourth quarter ended December 31, 2011.

Year ended 2011

• The sales in 2011 amounted to NIS 12,482 million (U.S. $3,267 million) compared to NIS 8,504 million in 2010* (an increase of 47%) and the operating profit amounted to NIS 287 million (U.S. $75 million) (an increase of 19% compared to the corresponding period last year. 

Fourth Quarter  of 2011

• The sales in the fourth quarter amounted to NIS 3,039 million (U.S. $795.3 million) (an increase of 1.9%) and the operating profit amounted to NIS 17 million (U.S. $4.4 million) compared to NIS 49 million in the comparable quarter last year.
• In the fourth quarter of 2011 the Company recorded onetime tax expenses of NIS 34.5 million (U.S. $9.0 million) due to legislative changes in increased Corporate tax rates to 25%.

KEY FIGURES for the year and the fourth quarter compared to the comparable periods last year:

                                           The
                                           rate                          The
          Data in NIS                       of                         rate of
           (millions) 1-12 2010 1-12 2011 change 10-12/2010 10-12/2011 change

         Net revenues   8,504    12,482    46.8%    2,983      3,039     1.9%
         Gross profit   2,311     2,916    26.2%      739        689    (6.8%)
        Rate of gross
               profit   27.1%     23.4%             24.8%      22.7%
     Operating income
        (before other
     gains and losses
       and changes in
        fair value of
           investment
            property)     241       287    19.1%       49         17   (65.3%)
    Rate of operating
               income    2.8%      2.3%              1.6%       0.6%
            Financial
        expenses, net     150       176    17.3%       42         41    (2.4%)
        Income before
      taxes on income    98.9     140.3    41.9%      7.2      (21.6)
      Taxes on income    36.3      46.8    28.9%      5.8       34.5     493%
     Rate of taxes on
               income     37%       33%               81%
    Net income (loss)
       for the period      63        94    49.2%        1        (56)

Results for the year 2011 ^[1]

Gross revenues

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