Super-Sol, the Israeli retailer, today (9 February) posted a fall in fourth-quarter profits due to financing costs, according to local reports.
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The company booked net profit of ILS50m (US$12.4m), against ILS86m a year ago, Reuters said.
Sales rose from ILS2.58bn a year earlier to ILS2.7bn in the fourth quarter of 2008. Same-store sales rose 5%, the report said.
However, despite the rising sales, higher financing costs hurt the bottom line. Super-Sol faced higher payments on inflation-linked bonds as Israel saw inflation rise, Reuters added.
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