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Scope Metal revenue jumps 73% to NIS 1 billion in 2006

 

From: Ynet, 12 March 2007

Avi Shauli

 

Most of the increase came from growth in business in Israel and internationally, especially in the United States. Net profit totaled NIS 95.6 million, an increase of 128% over 2005.

 

 

Scope Metal Trading and Technical Services Ltd. (TASE: SCOP) posted NIS 1.04 billion in revenue in 2006, 73% more than in 2005. Most of the increase came from growth in business in Israel and internationally, especially in the United States. Net profit totaled NIS 95.6 million, an increase of 128% over 2005.

 

Gross profit totaled NIS 321.9 million, an improvement of 81% over 2005. Operating profit totaled NIS 170.7 million, an increase of 93.4% over the previous year.

 

Scope Metal Chairman of the Board and General Manager Shmuel Shiloh said, “We’re pleased to present a record year in the company’s business. Our subsidiaries in the United States and the Czech Republic contributed NIS 249 million in revenue in 2006. We intend to increase our business in the coming years.”

 

Scope Metal is an international logistics company in the metals and plastics industry. The company imports, exports, and distributes a wide range of products.

 

The company is jointly controlled by Shiloh and First Israel Mezzanine Fund (FIMI), and owns subsidiaries in the United States, the Czech Republic, Romania, and China. Parties at interest own 63.45% of the company. The company is traded on the Tel Aviv Stock Exchange (TASE) at a market cap of NIS 1 billion.