Blue Square Israel announced this week its revenue for the second quarter of 2006 amounted to NIS1.68bn (US$383.56m), an increase of 18% compared with the same period in 2005.

In its statement, Blue Square noted that same store sales have increased by 9% since 1999, reflecting sales growth in each of the company’s three chains.

Blue Square’s gross profit for the quarter totaled NIS435.5m, a 20% increase over the corresponding quarter last year. Blue Square posted an operating profit of NIS84.8m, 44.5% more than for same period in 2005. The company’s net profit amounted to NIS38.9m, 64.5% more than the NIS 23.7m posted for the corresponding quarter last year.

Blue Square president and CEO Gil Unger said that the company intends to build on new store openings in the remainder of the year. “The second quarter was another period of strong growth for Blue Square. Since the beginning of the year, we have opened three stores, and plan to open additional three or four during the second half,” he commented.