Subscribe to Print Edition | Wed., April 02, 2008 Adar2 27, 5768 | | Israel Time: 02:19 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

Markets in Brief 'Chickens' Levy delivers strong 2007 report Advertisement Rami "Cheap Chickens" Levy set the retail industry in a flap two months ago with his shekel-per-kilo fresh fowl offer, which spurred rival chains Blue Square and Super-Sol to offer bargain birds of their own. The war sent their stocks flying south and analysts pecked at their prospects (see the chart below if the point requires elaboration), but meanwhile Rami Levy reported 31% net profit growth for 2007 to NIS 30 million, on sales of NIS 689 million, an increase of 10% against the year before. Fourth-quarter revenues climbed to NIS 204 million, on which the chain netted NIS 10.7 million, almost double its take in the parallel. (Sarit Menahem) Discount ends good year with bad quarter Discount Bank has become quite the darling of analysts, mainly because its stock has fallen so far, as Merrill Lynch points out. Meanwhile, the bank yesterday stated that provisions for workers' early retirement and other things lowered its fourth-quarter net profit 72% against the parallel to NIS 41 million, but that includes one-time income, without which the bank lost NIS 42 million on its regular operations, against netting NIS 52 million in the parallel. Ouch. For the year 2007 Discount reported a 51% increase in profit to NIS 1.3 billion, or NIS 707 million minus one-time items, which is more than double its net in 2006. (Tal Levy) ICL stepping up potash production... Israel Chemicals has reversed policy and decided to increase its production capacity of potash, phosphate rock and phosphate fertilizers to meet the mushrooming demand for fertilizers in world markets. Until recently the company had been against exploiting its production capacity in full, to avoid glutting the market. From the start of 2009, its potash production capacity should reach 250,000 tons a year following a $50 million investment in its Dead Sea No. 3 evaporation pool. (Yoram Gabison) ... while UBS applauds While on Israel Chemicals, UBS delivered its reaction to the potash producer's 2007 results. The report, titled "The tip of the iceberg," says that fourth-quarter sales and profits beat expectations (mainly because tax was less than foreseen). But given the dramatic upswing in potash and phosphate prices, says the bank, it believes that the company's fourth-quarter results were just the beginning: "The big numbers should come into play during 2008." The bank concludes out that the strength of demand for fertilizers is overcoming cost pressures, and repeats a Buy recommendation for ICL stock. Its 12-month price target is NIS 62. (TheMarker) Tshuva admits Vegas project may be delayed For the first time, Yitzhak Tshuva yesterday admitted, via proxy Miki Naftali - the head of Tshuva's company Elad - that his Las Vegas project, being pursued with Nochi Dankner, might have to be delayed by the subprime-cum-credit crisis. However, it is also true that Tshuva thinks the crisis will be over by the start of 2009. If not, and the builders can't borrow at reasonable interest rates, then postponement may become inevitable. (Ora Coren) Halman-Aldubi buying Yahav provident funds Bank Yahav will be completing the sale of its provident funds to the Te; Aviv-based Halman-Aldubi investments firm today, now that all the ducks are in a row and permits are in place. Last July, Halman-Aldubi agreed to pay NIS 187 million for the funds, which had NIS 2.7 billion under management. Since then the funds have suffered heavy withdrawals and the price may yet change. (Eti Aflalo) Golden Pages moving to buy portal Tapuz The Golden Pages directory etc. group is in advanced negotiations to buy the portal company Tapuz as well as the medical portal Doctors.co.il. Golden Pages already owns several Internet companies including price comparisons site Zap, the accommodations directory Weekend.co.il, and an online weddings site. (Ma'ayan Cohen) Asset repricing makes Olimpia's year Repricing its real estate assets, mainly in Kiev, boosted Olimpia's fourth-quarter book revenues by almost NIS 400 million and lifted net profit to NIS 90 million. For the year revenues were NIS 524 million, on which the company netted NIS 10.9 million. (Dana Gelberg) IDB Development bounds above real estate slump IDB Development Corporation reported a 70% leap in profit to NIS 1.84 billion for the year 2007, and a NIS 263 million profit for the fourth quarter of 2007. Subsidiary Discount Investment Corp contributed NIS 1.1 billion in profit last year, an increase of 122% over 2006. Clal Insurance contributed NIS 446 million, and IDB also booked NIS 58 million in profit from selling Azorim to Shaya Boymelgreen. The best-performing sector last year was telecommunications, which provided NIS 1.14 billion in profit, again more than double its contribution in 2006. Financial services was responsible for NIS 452 million, but the contribution of real estate tumbled 84% to NIS 89 million. (Michael Rochvarger) Bookmark to del.icio.us   WHO knows? The WHO says Israel lets Gazans die in 'avoidable tragedies'. Friendly faces Google, Facebook and Yahoo heads will attend a J'lem technology summit.

Today Online Hamas TV puppet 'kills' Bush as revenge for U.S., Israeli actions Responses: 299 Editorial: Israel's settlement policy is one of deception Responses: 140 WHO: Israel turning away sick Gazans, who die in 'avoidable tragedies' Responses: 102 Barak: Gaza crossings may open if rocket attacks, smuggling stop Responses: 81 'If rabbis won't marry interfaith couples, they should send them to someone who will' Responses: 29 More Headlines 00:30 Hezbollah: Saudi Arabia is siding with gov't in Lebanon power struggle 23:57 MKs okay law to protect the shores of Lake Kinneret 22:28 WHO: Israel turning away sick Gazans, who die in 'avoidable tragedies' 21:50 Barak: Gaza crossings may open if rocket attacks, smuggling stop 23:24 Israeli broadcaster and actress Shosh Atari dies aged 58 19:47 Falafel oil provides power for T.A. 'Earth Hour' concert 21:58 Facebook, Google founders to attend Jerusalem conference in May 01:06 Seattle prosecutor: Much of Jewish center shooter's statement inadmissible 20:49 Fischer: Israel's growth to slow in 2008 due to global slump 22:36 National Insurance Institute rejects plan to take over school fee payments 16:55 Two civilians lightly hurt in mortar attack on Negev kibbutz 20:59 Benizri: I've been persecuted for 8 years for no fault of my own 22:05 Reputed crime family member denies 2004 teen murder Previous Editions Select Day 01 apr 31 mar 30 mar 28 mar 27 mar 26 mar 25 mar 24 mar 23 mar 21 mar 20 mar 19 mar

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