Independent supermarket chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) today announced 25.7% revenue growth to NIS 2.79 billion in 2012 from NIS 2.22 billion in 2011. Net profit rose 17.2% to NIS 110.4 million in 2012.
Same store sales rose by 7.5% in 2012 and cash flow from operations rose to NIS 152 million. The supermarket chain currently operates 24 owned stores and two stores through franchisees, and it plans to open eight more supermarkets by the second quarter of 2014.
The salary cost of Rami Levy Chain Stores Hashikma CEO Rami Levy was NIS 3.85 million in 2012, including a salary of NIS 1.35 million and a bonus of NIS 2.49 million. The salary cost of his wife, Adina Levy, who serves as treasurer, was NIS 1.18 million.
Levy said, "In 2012, the company maintained its profit margins thanks to its improved commercial terms with suppliers, without affecting our customers, for whom we continue to offer the cheapest prices in Israel throughout the year."
Levy added, "Over the next fifteen months, we plan to open eight new supermarkets across the country, which will allow more and more customers to become Rami Levy customers and enjoy low prices every day. We are also expanding our online activity, which has been growing rapidly. I must note that our Internet activity has grown by more than 150%."
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2013
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