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Article: IKEA Israel sales grow 12.8 percent.
- Article from:
- Globes
- Article date:
- April 5, 2006
CopyrightCOPYRIGHT 2006 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Vered Sharon-Rivlin
Apr. 5--IKEA Israel has reported record sales growth. IKEA Israel general manager Shlomo Gabay presented figures yesterday showing NIS 394 million in sales in 2005, 12.8 percent more than the NIS 345 million in sales in 2004. The store posted a net profit of NIS 35 million.
For the first time IKEA Israel distributed a dividend to its shareholders Matthew Bronfman and three executives to whom Bronfman allocated 10 percent of the company's shares: Gabay, CFO Dani Bruchman and COO Elisha Cohen.
IKEA Israel's growth in 2005 was the highest since the store was opened five years ago, if 2001 is excluded because the store ...