JERUSALEM [Reuters] — Real estate developer Africa Israel Investments AFIL0.1TA on Sunday reported a surge in first-quarter net profit, boosted by accounting changes, efficiency measures and improved results at its subsidiaries.
The Israeli company, controlled by billionaire diamond dealer Lev Leviev, recorded net profit of 647 million shekels ($163 million), up from 45 million shekels a year earlier.
Lev Leviev’s Q1 Profit Soars to $163 Million
JERUSALEM [Reuters] — Real estate developer Africa Israel Investments AFIL0.1TA on Sunday reported a surge in first-quarter net profit, boosted by accounting changes, efficiency measures and improved results at its subsidiaries.
The Israeli company, controlled by billionaire diamond dealer Lev Leviev, recorded net profit of 647 million shekels ($163 million), up from 45 million shekels a year earlier.
Africa Israel noted that for the first time, it was reporting results according to accounting rule IAS 40 that deals with valuations of real estate under development.
Profitability was also boosted by a decline in financing expenses.
Africa Israel also has interests in energy, hotels, infrastructure, and fashion. It owns 71 percent of AFI Development (AFIDLq.L), a Russia-focused real estate company.
($1=3.96 shekels)
(Reporting by Steven Scheer; Editing by Erica Billingham)
Just asking
Does this mean we can ask him for a loan?
I know I know get on line.
BH
BH
we wish him all the best
shliach
bli ayin hara. keyn yirbu.
anon
God should bless him to be able to continue and even double the wonderful work he does!
also 1 track minded
to the first 1track minded commenter:
i was wondering the same thing… JK sorry leviev,
devorah
i’m so happy, i guess this proves the Rebbe is STILL our leader. Forever and ever
ummm devorah
whats the connetion?
From Argentina
Bsd
We don´t need proves to know the Rebbe is oue leader…