Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, reported its first quarter results this morning. The company's revenue fell 17% in comparison with the first quarter of 2015, from NIS 1.548 billion to NIS 1.289 billion.
Operating profit rose from NIS 232 million to NIS 277 million. Net profit dropped 60% from NIS 210 million in the first quarter of 2015 to NIS 85 million in the first quarter this year.
Revenue from sales of natural gas net of royalties rose from NIS 410 million in the first quarter of 2015 to NIS 429 million in the first quarter this year. EBITDA (earnings before interest, tax, depreciation and amortization) on natural gas exploration and production rose to NIS 369 million, from NIS 356 million in the corresponding quarter of 2015. The group's gas sales rose 10% to 2.2 BCM. The rise in the value of gas sales stems mainly from the rise in volume, partly offset by a fall in prices.
Delek Group has announced an NIS 80 million dividend.
Published by Globes [online], Israel business news - www.globes-online.com - on May 30, 2016
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