This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
ROSH HA'AYIN, Israel,
August 30, 2012 /PRNewswire/ --
Alon Holdings Blue Square-Israel Ltd. (NYSE and TASE: BSI) today announced its financial results for the second quarter ended
June 30, 2012.
Increase in total results of the Company's segments (commercial and fueling sites segment Supermarkets segment, Non-food segment and Real estate segment) in this quarter amounted to
NIS 161.6 million (U.S.
$41.2 million) compared to
NIS 123.8 million in the corresponding quarter last year.
In the commercial and fueling sites: increase in operating profit of 64% from NIS 33.2 million in the first quarter of this year to NIS 54.5 million in this quarter mainly from efficiency measures taken by the Company after reducing the marketing margin in September 2011 and expanding the activity in the convenience stores sector.
In the supermarkets segment-
The operating profit in the second quarter amounted to 2.0% compared to 1.1% in the first quarter of the year and 1.6% in the fourth quarter of 2011. The major improvement mainly derived from implementing efficacy measures and adjusting the expense structure.
Mega commenced the implementation of a strategic maneuver in 30 branches of the chain that shall include: o Exiting from 10 branches until the end of the year. o Launching new HD chain in national deployment of 20 branches. The operating profit rate excluding these branches is 3.4% in the second quarter of the year.
Mega expects that it shall complete the deployment of self-stewarding until the end of first quarter of 2013.
BSRE completed during this quarter the purchase of land in the wholesale market complex and recorded a gain of NIS 95 million from revaluating the commercial section. In addition, following a decrease in the holding rate in the residential section of the project, BSRE recorded a gain of NIS 19.6 million.
The Non Food segment: an operating loss of NIS 2.3 million in the first half of 2012 compared to an operating loss of NIS 1.6 million in the first half of 2011.
Toward the end of the second quarter, the Company launched cellular operations under the brand "YouPhone". YouPhone offers an unlimited program and Triple programs (food, gasoline and communication) in collaboration with the customers club.
The main results of the quarter as compared to the comparable quarter:
Data in millions of NIS H1 Q2 Q1 H1 Q2 Q1
Net revenues 6,513.6 3,335.1 3,178.5 6,215.6 3,208.5 3,007.1
Gross profit 1,419.4 720.8 698.6 1,481.5 752.0 729.5
Operating profit 193.9 155.8 38.1 210.9 118.1 92.8
Finance expenses, net 138.9 95.7 43.2 56.0 15.2 40.8
Net profit for the
period 51.2 48.4 2.8 109.5 71.8 37.7
Results for the second quarter of 2012