Crises are no hurdle for corporate revenue, D&B says

Leading trade and services companies show 27.9 percent increase to $55 billion in 2006.

Undeterred by the war in Lebanon and the leadership crisis overshadowing the country, corporate revenues continue to climb with Israel's leading trade and services companies showing a 27.9 percent increase to $55 billion in 2006, while sales at industrial companies rose 16% to $69b., Dun & Bradstreet Israel reported on Sunday. "Despite the war in the Lebanon, the political leadership crisis and the ongoing investigations of political leaders including the finance minister, the Israeli economy is growing and pushing forward from strength to strength," said Reuven Covent, CEO of Dun & Bradstreet Israel. The ongoing strengthening of the economy, he noted, was supported by a growing level of foreign investments during the year and the rally in the capital markets, which attracted foreign investors. The acquisition of Ivax in 2006 made Teva Pharmaceutical Industries Ltd., the largest industrial company with revenues of $8.4b., taking the top spot from Oil Refineries Ltd. (Bazan) in the D&B ranking of Israel's biggest industrial companies. Benefiting from the surge in oil prices, revenues at Bazan, which placed second in the ranking, rose 5.2% in 2006 to $6.4b. In third place was the Israel Electric Company where revenues increased by 4.9% to $3.9b., followed by Israel Chemicals Ltd. with revenues of $3.2b. in fourth place and the Israeli Aviation Industry with a trade volume of $2.8b. in fifth place. Alon Delek again led the list of the 150 largest trade and services companies in 2006 as revenues rose 36.5% over the previous year to $6b. as a result of the company's global expansion. Delek Petroleum Ltd. was ranked in second place with revenues of $4.9b. followed by Zim Integrated Shipping Services Ltd., generating revenues of $2.9b., Bezeq with $2.7b. and Paz with $2.3b.