Analyst IMS Investment Management Services Ltd. (TASE:ANLT) saw an increase in income from investment management, which rose 36.4% to NIS 124.8 million in 2010. Operating profit, however, fell 11.5% to NIS 67.6 million, due to a sharp fall in nostro income to NIS 14 million in 2010 from NIS 44.6 million in 2009.
Net profit fell 19.7% to NIS 42.2 million.
"We succeeded in maintaining growth in three investment management businesses. The nostro reflects the reality in the capital market, so we see a fall in the nostro portfolio," said Analyst CEO Itzik Shnidovsky.
Together with the publication of the financial report, Analyst announced that it will distribute a NIS 65 million dividend, amounting to NIS 6 per share.
Analyst has always had substantial nostro activity, which contributed to half of the company's revenue in 2009. In 2010, when the TASE rose strongly compared with 2009, the nostro activity contributed just 13% of revenue.
Analyst's share price rose 10.6% today to NIS 36.79, giving a market cap of NIS 360 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 24, 2011
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