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Alon Holdings Blue Square - Israel Ltd. (NYSE:BSI) Announces The Financial Results For The Fourth Quarter Of 2012

Stocks in this article: BSI

Dor Alon continues to grow, alongside with an adequate coping with the reduction of the marketing margin last year. The results of this quarter, excluding inventory losses of supervised gasoline, were doubled compared to the corresponding period.

BSRE continues to present an improvement in its current activity and in the development momentum and entrepreneurship. In the fourth quarter it realized its holdings, in the commercial center in Beer Sheva.  In January 2013, the Company admitted Harel Investments, Insurance and Financial Services Ltd. as a partner (50%) in Comverse Building, which is under construction and currently, completes the realization of "Beit Cohen" in Petach Tikva. These activities strengthen the balance sheet structure and create value for the investors.

In the Supermarkets segment, Mega is improving and takes efficacy measures. In the fourth quarter, Mega completed the exit from 7 out of the 11 planned branches. The efficacy measures taken resulted in an improvement of 156% in the Supermarkets segment results in this quarter.

The Company thanks Zeev Vurembrand who concluded his position in December 2012 and congratulates Mr. Motti Keren who was appointed as the CEO of Mega Retail.

In the Non Food segment, the Company resolved to merge BEE Retail with Mega, such that the logistic center and headquarters shall be assimilated in Mega and Na'aman shall be become a subsidiary of Mega. Furthermore, we resolved to exit the leisure area by selling its holdings in "Kfar Hashashuim" (hereinafter - Kfar). We expect that in the first quarter of 2013, the segment shall become profitable.

In the fourth quarter, YouPhone brand turned into a legitimate factor, as a cellular network, which brings innovation and the lowest prices in the market. The rate of joining new customers stands at 20,000 per quarter.

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