Shikun and Binui grows profits in Israel

Steve Skinner

24 August 2009

Shikun and Binui, the construction division of Israel's leading infrastructure and real estate contractor, Arison Group, reported second quarter sales of ILS 1.12 billion (US$ 294 million), up +2% on the ILS 1.10 billion (US$ 289 million) recorded last year.

Pre-tax profits for the second quarter rose +13.5% to ILS 75 million (US$ 20 million), up from the ILS 66 million (US$ 17 million) recorded last year.

"During the second quarter we continued to work on national projects such as the Carmel tunnels and section 18 of the cross-Israel highway, which was opened to traffic ahead of time," said Ofer Kotler, CEO.

"Revenues from construction work outside of Israel now almost match those from within Israel and this has enabled us to attain profitable growth in all areas of activity," he said.

Shikun and Binui's order book at 30 June 2009 stood at ILS 6.4 billion (US$ 1.6 billion), up +3% on that at the end of 2008.

Business & Finance Financial results Construction
STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA