Koor's net profit fell 12.5% to NIS 427.7 million.
Koor Industries Ltd. (TASE:KOR) today published its financial report for the third quarter of 2008. Despite reporting NIS 535 million in capital gains on the sale of shares in Credit Group AG (NYSE: CS; SWX: CSGN; XETRA: CSGZ), Koor's net profit fell 12.5% to NIS 427.7 million (NIS 20.02 per share) for the third quarter from NIS 491.5 million for the corresponding quarter of 2007.
Koor posted NIS 452.1 million revenue for the third quarter, 30% more than the NIS 347.7 million for the corresponding quarter.
Koor is a unit of Nochi Dankner's IDB Holding Corp. Ltd. (TASE:IDBH) held through Discount Investment Corporation (TASE: DISI). Koor's chief holding is Makhteshim Agan Industries Ltd. (TASE: MAIN). Koor's share rose 1.6% to NIS 124.50 by early afternoon, while Discount Investment's share fell 0.9% to NIS 51.20.
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2008
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