Amram Avraham, controlled by Alon and Yoram Amram, has reported its financial results for the first half and second quarter of 2024. The company, listed on the Tel Aviv Stock Exchange since May 19, 2024, following an initial public offering (IPO), reports a decline in revenue and net profit. In the first half of 2024, the company’s revenue reached approximately 409.5 million shekels, a decrease of 22.6% compared to the 529.5 million shekels in the corresponding period last year. This decline is primarily attributed to a change in the project mix, progress pace, and the fact that the first half of 2024 saw the start of significant projects with relatively low progress rates. Additionally, last year’s revenue included approximately 45 million shekels from the sale of land in Or Akiva. Despite the decline, Amram Avraham sold 1,368 housing units for a total of 2.23 billion shekels in the first half of 2024.
Leave a comment
Leave a comment