Gabbay Manibim published its second quarter report for 2022 and announced a sharp increase in its revenues and profits. In fact, the company ended with a sharp increase in its revenues to approximately NIS 81.4 million, compared to approximately NIS 27.6 million in the corresponding quarter last year. The company’s gross profit for the quarter increased accordingly to approximately 23.8 million shekels, compared to approximately 9.6 million shekels in the corresponding quarter of last year. The company explains that the increase in income was mainly due to the recognition of income for the sale of apartments in the Ir Hayin and Bodenheimer projects.
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The company’s balance sheet shows that Legbay generates cash and short-term deposits totaling approximately NIS 99 million. In addition, the value of the investment real estate owned by the company is approximately NIS 712.1 million. The equity capital of Gabai Manivim, as of June 30, 2022, was approximately NIS 362.1 million.
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According to Mia Gabai-Tobol, the company’s CEO: “We conclude the first half of 2022 with a sharp increase in the company’s revenues and profits. The financial results express the profitability of the Wine City projects in Ashkelon and Bodenheimer in Tel Aviv, both of which are located in the heart of the demand areas, and have become extremely attractive for our customers. The sale of the apartments in these projects continues even these days, and at the same time we are preparing for the implementation of several significant projects in the near future, which will ensure the continued growth of Gabay Manivim in the years to come.”