The supermarket chain earned NIS 68 million in the quarter, although revenue dipped slightly.
Shufersal Ltd. (TASE:SAE) reported its second quarter 2017 results today. The supermarket chain's quarterly revenue fell slightly, totaling NIS 3.001 billion, down 2.3% in comparison with the NIS 3.072 billion in the second quarter of 2016.
Shufersal nevertheless posted a higher net profit of NIS 68 million, up 10% in comparison with the NIS 62 million profit recorded in the second quarter of 2016. Gross profit rose 4% to NIS 767 million, and operating profit rose 3% to NIS 121 million. EBITDA rose 8% to NIS 201 million.
Shufersal, headed by chairman Yisrael Berman and CEO Itzik Abercohen is part of the IDB group controlled by Eduardo Elsztain, and has a market cap of NIS 4.5 billion on the Tel Aviv Stock Exchange.
Published by Globes [online], Israel business news - www.globes-online.com - on August 27, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
Yitzchak Abercohen photo: PR