Yellow and Super Yoda’s sales flew to NIS 354 million

by time news

Nir Stern (Photo by Sivan Farage)

Paz is recovering from the losses caused to it last year due to the closures and here it reaches quarterly profits of NIS 60 million compared to losses of NIS 174 million in the corresponding quarter. Recall that last year the Israelis hardly traveled because of the closures and therefore the sale of fuels at the stations almost disappeared and so the activity of the refinery decreased significantly.

The company’s reports show that revenues in the third quarter of the year amounted to NIS 3 billion, compared with NIS 1.9 billion in the corresponding quarter last year, an increase of 62%. In the third quarter, there was a significant increase in the sale of fuels at stations (about 12% compared to the corresponding quarter last year).

Revenues from the retail and trade sector in the third quarter amounted to NIS 1.9 billion, compared with NIS 1.1 billion in the corresponding quarter last year, an increase of 65%. Retail food revenues in the third quarter, including Super Yoda, amounted to NIS 354 million, compared with NIS 271 million in the corresponding quarter last year. Yellow Network alone recorded a fourth quarter in a row of double-digit growth that the quarter stands at a 10% increase.

The retail gross profit margin in the yellow chain stands at 37.7% in the third quarter compared to 36% in the corresponding quarter last year. The monthly income per square meter in yellow and Super Yoda is NIS 7,000 in the third quarter, compared to NIS 6,600 in the corresponding quarter last year.

The net profit in the third quarter amounted to NIS 60 million, compared with a net loss of NIS 174 million in the corresponding quarter. Without the refinery, Paz would have posted a net profit for the quarter of NIS 84 million.

Paz CEO Nir Stern said: “Paz concludes a strong quarter and shows impressive growth in its results and record results in the retail and trade sector. The sharp growth comes, among other things, from double-digit growth in yellow, a sharp increase in fuel consumption and an improvement in refining intervals. We are continuing the momentum of implementing the Group’s strategy and are investing great efforts to promote its implementation in all sectors of activity. Upon completion of the Freshmarket transaction, we will become a leading player in the retail market in Israel in general and in the neighborhood supermarket market in particular.

“In the current quarter, there is an impressive recovery in the refining margins of all major distilleries, a trend that gives a significant boost to the refinery’s split and distribution as a dividend in kind.

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