ISRAEL: Super-Sol swings to Q2 net loss
Israeli supermarket chain Super-Sol has posted a second-quarter net loss, compared to a year-earlier profit, hit by increased competition and the domestic recession.
Super-Sol posted a net loss of NIS19m (US$4.3m), or NIS0.95 per share, for the second quarter, compared with a net profit of NIS28m, or NIS1.35 per share, a year earlier.
For the first half, Super-Sol's net profit was NIS1.35 per share, compared with NIS4.14 per share in the year-ago period.
Super-Sol said the results for the quarter "were directly influenced by the political, economic and security situation," adding that such factors would continue to impact the company's results, reported Reuters.
Super-Sol's revenues for the quarter slid to NIS1.62bn, from NIS1.65bn a year earlier.
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