Convenience stores boost Dor Alon Israel profits

Nine-month net profit rose 12.8% to NIS 29.6m. and revenues increased 54.3% to NIS 5.63b.

By YIGAL GRAYEFF, AVI KRAWITZ
November 24, 2005 08:27

Dor Alon Energy Israel had a 26.3% rise in net income for the third quarter of 2005 resulting from expanding its chain of convenient stores connected to its gas stations, the company said Wednesday. The Israeli energy subsidiary of the Alon Oil Group said that net profit rose to NIS 10.1m. for the three months ending September 30, while profits jumped 55.9% to NIS 2.14b. Dor Alon Israel CEO Israel Yaniv said that the company's decision to focus on expanding its convenience stores on the premises of the Dor Alon gas stations had proved to be successful. Yaniv also attributed the success of the company so far this year to the completion of its restructuring process. Nine-month net profit rose 12.8% to NIS 29.6m. and revenues increased 54.3% to NIS 5.63b.


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