Lapidot Capital: Net profit NIS 29 million; Revenue of 1.63 billion

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Lapidot Capital
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Reports the results of the third quarter when it registers an 8% increase in revenues to NIS 1.63 billion, compared with about 1.5 billion in the corresponding period. The company returned to a net profit for shareholders of NIS 29 million, compared with a loss of NIS 2 million in the corresponding quarter.

Shareholders’ equity amounted to NIS 1.07 billion, an increase of 45% since the end of last year, when the amount was NIS 734 million. The company announced that it would distribute dividends in the amount of NIS 20 million, while all the companies held in the group also reported a distribution of dividends in the consolidated amount of NIS 55 million, of which NIS 29 million to the Lapidot Group itself and the remaining NIS 26 million to other shareholders. The balance of liquidity amounted to NIS 1.3 billion, compared with NIS 977 million at the end of the year


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Recorded a backlog of orders of about NIS 11.7 billion. An increase of about NIS 1 billion from the previous quarter. Revenues amounted to NIS 1 billion, or an increase of 7% compared to the same period last year. The gross profit amounted to NIS 50.7 million, which constitutes 5% of revenues, an increase of 53% compared to the quarter last year, when the profit amounted to NIS 33.2 million – 3.5% of revenues. The company announced that it will distribute dividends in the amount of NIS 30 million, in addition to the additional NIS 60 million that the company has distributed in dividends since the beginning of the year.

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(41%) It recorded sales of approximately 193 housing units with sales of approximately NIS 687 million, compared with the corresponding quarter then, when the company sold 112 housing units (41% less) with sales of approximately NIS 234 million (65% less). The increase in revenues was mainly due to an increase in real estate prices. The company’s net profit increased by 55% and amounted to NIS 30 million, compared with NIS 19 million in the corresponding period. Distributed to shareholders since the beginning of the year.


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Recorded revenues of about NIS 226 million or a decrease of about 17% compared to the corresponding period then recorded revenues of NIS 274 million. Sunny’s net profit in the third quarter amounted to NIS 13.6 million, compared with a net loss in the second quarter of NIS 13.6 million, and a net profit of NIS 9 million in the corresponding quarter last year. The increase in profitability was due to an increase in sales of accessories, which have a higher profitability rate.

Arik Shapir, Deputy Chairman of the Lapidot Capital Group“Our investors have enjoyed dividend distribution in all of the Group’s subsidiaries throughout the year. The momentum in the field of infrastructure and real estate, state investments in land marketing and demographic growth are a fertile ground for continued growth in the Group’s companies, which will be reflected in the coming years.”

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