Shlomo Holdings: Net profit for the quarter increased by 51% and amounted to NIS 148 million

by time news

The Group’s revenues in the third quarter increased by 11% to NIS 1.2 billion, compared with NIS 1.1 billion in the corresponding period. According to the company, the increase is due to an improvement in vehicle activity, credit and insurance

Shlomo Holdings Group publishes financial statements, according to which the Group’s revenues increased by 11% in the third quarter to NIS 1.2 billion, compared with NIS 1.1 billion in the corresponding period last year. According to the company, the increase is due to an improvement in vehicle activity, credit and insurance. Revenues in the first nine months increased to NIS 3.6 billion by 24%, compared with revenues of NIS 2.9 billion in the corresponding period last year.

Operating profit in the third quarter increased to NIS 184 million, compared with operating profit of NIS 129 million in the corresponding period in 2020. In the first nine months of 2021, operating profit increased by approximately 71% and amounted to approximately NIS 498 million, compared with approximately NIS 291 million in the corresponding period last year. Vehicle (both in the number of vehicles sold and in profitability) and operational improvement.

Net income in the third quarter increased by approximately 51% and amounted to approximately NIS 148 million, compared with a profit of NIS 98 million in the corresponding quarter last year. The net profit in the first nine months of 2021 increased to NIS 396 million, compared with a profit of NIS 143 million in the corresponding period last year.

Asi Schmelzer, Chairman of the Shlomo Group: “The results of the third quarter and the first nine months of 2021 show continued significant growth of the Group, in terms of all its activities. The wide range of services that the Shlomo Group offers in the field of vehicles and the strengthening of activity in the areas of leasing and rental services, bring the group impressive results. The Shlomo Group continues to grow in its core business alongside its expansion into other channels. “

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