Aspen Group Ltd. (TASE:ASGR), controlled by chairman Rony Zarom, today published its financial report for the fourth quarter and full year of 2009. Net profit for the fourth quarter rose sharply to NIS 7.9 million from NIS 69,000 for the corresponding quarter of 2008.
Fourth quarter revenue rose 4.4% to NIS 19.8 million over the corresponding quarter.
Aspen Group's net profit in 2009 rose nearly seven-fold to NIS 32.1 million from NIS 4.7 million in 2008. Revenue rose 23% to NIS 102.7 million in 2009 and operating profit rose 20% to NIS 67.2 million.
Aspen Group CEO Ilan Gifman said, "We continue to examine our income-producing portfolio, and we will ensure to expand it by exploiting the current window of opportunity in the markets. We will also sell properties whose betterment potential has been filled. We're also considering entering the UK income-producing properties market and the Italian solar energy market."
Aspen Group's share price rose 2.2% today to NIS 5.17, giving a market cap of NIS 193 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2010
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