November 21, 2018 / 8:17 AM / 22 days ago

Israel's Azrieli Group Q3 net profit edges up

JERUSALEM, Nov 21 (Reuters) -

* Israeli real estate developer Azrieli Group reported on Wednesday third-quarter net profit of 264 million shekels ($71 million), up from 263 million shekels a year earlier.

* Excluding the effect of property revaluations, adjusted profit was up 8 percent to 241 million shekels.

* Azrieli, which built Tel Aviv’s Azrieli office and shopping complex, said net operating income (NOI), which reflects the group’s core business, rose 11 percent to 386 million.

* Occupancy rates at its shopping malls stood at 98 percent.

* ($1 = 3.7338 shekels) (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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