Delek Group Profit ILS101 Million On Capital Gains, U.S. Subsidiary
01 September 2011 - 10:16PM
Dow Jones News
Israeli holding company Delek Group Ltd. (DLEKG.TV) said
Thursday its net profit for the second quarter totaled 101 million
shekels ($28.4 million), up from ILS64 million in the second
quarter of 2010, mainly due to capital gains and an improved
performance by its American subsidiary, Delek US Holdings Inc.
(DK.NYSE).
Total revenue rose 60% to ILS14 billion. Delek Group saw a
capital gain of ILS348 million in the quarter from selling shares
in Noble Energy Inc. (NBL.NYSE). Delek US Holdings also contributed
to the higher net profit because of higher margins.
Delek Group has holdings and investments in energy, real estate
and the automotive sector.
At 1130 GMT, shares of Delek were down ILS3.90, or 0.61%, at
ILS636.00, in a lower Tel Aviv market.
-By Sara Toth Stub, contributing to Dow Jones Newswires,
saratoth@gmail.com