ROSH HA'AYIN, Israel, March 22, 2013 /PRNewswire/ --
- In the Commercial and Fueling sites: A material improvement in the operating profit in this quarter compared to the corresponding quarter last year. The operating profit in this quarter, excluding inventory loss, amounted to NIS 34 million (increase of 100%).
- In the Supermarkets segment: An improvement in the segment results in this quarter amounting to NIS 49.7 million (3.1% of revenues) compared to NIS 19.4 million (1.2% of revenues) in the corresponding quarter last year (an increase of 156%) stemming mainly from taking efficacy measures And exiting from branches.
- In the Real Estate segment: BSRE presents a continuing improvement in NOI ( NIS 53 million in this quarter). The Company continues the development and the betterment of projects under construction. After the report date, the sale of 50% of the Comverse Building in Ra'anana was completed in consideration of NIS 51 million.
- I n the Non Food segment: in the course of the quarter, BEE Group resolved to realize the activity of the toy and leisure segment. The Non Food segment shows a loss of NIS 12.7 million, excluding the toy and leisure activity.
- Dividends: In April 2013, BSRE and Dor Alon are expected to distribute dividends at an estimated amount of NIS 70 million; the Company's share is NIS 55 million.
Profit from Operations in millions of NIS Q4 2012 Q4 2011 Rate of change ----------------------------------------- ------- ------- -------------- Commercial and Fueling sites 21.2 17.5 21.1% Supermarkets 49.7 19.4 156% Non-Food (from continuing operations) (12.7) (21.2) (40%) Real Estate 19.7 18.8 4.8%
Comments of Management
Mr. David Weissman, CEO and Chief Business Officer -"The fourth quarter marks a continuous improvement in each of the operating segments.
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