Simplifying the measures carried out by the brothers Yossi and Shlomi Amir since its control, greatly improved the profitability of the supermarket chains.
The Shuffersal (Tase: SAE) series recorded a moderate increase in revenue last year by 3 %, to 15.6 billion New, but it managed to double its net profits, from 323 million New in 2023 to 665 million New in 2024. CEO, respectively.
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The overall profit margin of Safesal improved from 26.5 % of sales in 2023 to 28.3 % in 2024. He said that the improvement was the result of high sales revenues (partly thanks to high prices) but also to simplify the new management. The optimum profit margin improved more than 4 % of sales revenues to 5.9 %, which reaches operational profits to 916 million New in 2024, an increase of 605 million NIS in 2023. Here also, simplifying the measures taken by Amir's brothers, which included voluntary or forced departure for senior managers, was largely responsible for improvement.
Shuffersal has a maximum of the market less than 10 billion NIS. The price of his share increased by more than 40 % last year. The Amir Brothers bought their share in the company with a value of 6 billion NIS, which means, on paper, profit for about one billion NIS for their investments.
It was published by Globes, Israel Business News – En.globes.co.il – on March 26, 2025.
© Copy Publish Publisher Itonut (1983) Ltd. , 2025.
Yossi and Shlomi, Prince of Credit: Jonathan Bloom