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Delek profit jumps as energy prices soar

By Dayle Venture 1 month ago

The business documented a internet profit of NIS 2.5 billion, a nine-fold raise in excess of the corresponding quarter of past yr.

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The powerful increase in energy selling prices in the wake of the war in Ukraine has boosted the profits of Delek Group Ltd. (TASE:DLEKG), controlled by Yitzhak Tshuva (48.6%). Delek has reported the second greatest income of any Israeli enterprise after Zim Integrated Shipping and delivery Companies Ltd. (NYSE: ZIM) in the to start with quarter of 2022.

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Delek Group’s earnings in the initially quarter of 2022 was NIS 3.1 billion, up 63% from the corresponding quarter of 2021. The organization reported a internet gain of NIS 2.5 billion, a nine-fold maximize in excess of the corresponding quarter of previous yr. Internet revenue from Delek’s Ithaca North Sea unit alone was $785 million compared with $43 million in the initially quarter of 2021.

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Delek Group’s share cost rose 3.48% now to give a current market cap of NIS 3.4 billion, up from $43 million in the corresponding quarter of final yr.

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Revealed by Globes, Israel business enterprise news – en.globes.co.il – on May possibly 24, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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Yitzhak Tshuva  credit: Tamar Matsafi

Yitzhak Tshuva credit score: Tamar Matsafi

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