Africa Israel 1st quarter profits up 76%. (Africa Israel Investments)

Israel Business Today, June, 1994

Africa Israel Investments earned profits of NIS 18.2 million (approx. $6.1 million) in the first quarter of 1994, compared to NIS 10.3 million ($3.4 million) in the same period last year, an increase of 76 percent. The company's revenues grew by 148 percent to NIS 123 million ($41 million). The gain was mainly attributed to the 224 percent increase in revenues from construction and property sales which totaled NIS 81.8 million ($27.3 million) compared with NIS 25.2 million ($8.4 million) in the comparable period.

(See also, Africa Israel To Open Seven More Holiday Inns, Tourism Section.)