ROSH HA'AYIN, Israel, May 29, 2012 /PRNewswire/ --
Alon Holdings Blue Square-Israel Ltd. (NYSE and TASE: BSI) today announced its financial results for the first quarter ended March 31, 2012.
- In the supermarkets segment the Company initiated significant efficacy measures including among others exiting from approximately 10 losing branches, saving operating and manpower costs, improvement and saving in the supply chain, improving the trade margins by increasing the scope of the private brand in order to improve the operating profit.
- In the commercial and fueling sites there was a massive improvement. The operating profit in this quarter amounted to NIS 33 million compared to NIS 17.5 million in the fourth quarter of 2011.
- The Non Food segment has gone through a comprehensive change from an operating loss of NIS 28 million in the fourth quarter of 2011 to a profit of NIS 4.7 million this quarter.
- BSRE continues to grow, develop and better its properties while presenting impressive results and these days it completes the purchase of the land in the wholesale market and commenced erecting the Comverse building in Ra'anana.
- In the second quarter of 2012, the Company launched cellular operations under the brand "YouPhone"
The main results of the quarter as compared to the comparable quarter:
Data in millions of NIS 1-3 2012 1-3 2011 10-12 2011 ---------- ---------- ------------ Net revenues 3,178.5 3,007.1 3,039.4 Gross profit 698.6 729.5 689.4 Rate of gross profit 22.0% 24.3% 22.7% Operating profit (before other gains and losses and changes in fair value of investment property) 35.6 91.7 7.1 Rate of operating profit 1.1% 3.1% 0.2% Finance expenses, net 43.2 40.7 41.0 Net profit (loss) for the period 2.8 37.7 (66.1)
Results for the first quarter of 2012 Gross revenues