Blue Square's Results Continue To Dazzle

June 2007 | Company News Alert

Blue Square, Israel's number-two food retailer, has reported that profits in the first quarter of 2007 soared by an incredible 46% to ILS42.5mn (US$10.6mn). Revenues rose 10% to ILS1.69bn from ILS1.54bn in the same period last year, while same-store sales were up 5.1%. These results were attributed to expansion and efficiency programmes, which will be continued as it is hoped these will further boost revenues and profits. Along with these first quarter results, the Bronfman-Alon Group, which owns Blue Square also announced the resignation of CEO Gil Unger, who will now head the Alon Group's European retail activities.

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