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Azrieli Q1 attributable net profit grows 8% YOY

Azrieli Group said its first-quarter net profit attributable to shareholders came to 259.0 million shekels, a gain of 8% from about 240.0 million shekels in the prior-year period.

EPS increased 8.1% on an annual basis to 2.14 shekels from 1.98 shekels.

The Israel-based company said funds from operations from real estate activity totaled 266.0 million shekels compared with 253.0 million shekels in the year-earlier term.

Net asset value, as defined by the European Public Real Estate Association, grew 6.8% year over year to 157 shekels per share from 147 shekels per share.

Year-to-date through March 31, the company's total assets weighed in at roughly 31.69 billion shekels, while net debt amounted to 7.8 billion shekels.

As of May 15, US$1 was equivalent to 3.59 shekels.