March 26, 2018 / 6:27 AM / in 7 months

Israeli retailer Shufersal Q4 profit dips

JERUSALEM, March 26 (Reuters) -

* Shufersal, Israel’s largest supermarket chain, said on Monday net profit fell in the fourth quarter, as increased financing expenses and taxes offset higher revenue.

* The company posted quarterly profit of 77 million shekels ($22 million), down from 96 million a year earlier.

* Revenue grew 2 percent to 2.93 billion shekels, while same store sales grew 1 percent.

* Shufersal declared a dividend of 160 million shekels.

* Shufersal is controlled by holding company Discount Investment Corp.

* ($1 = 3.4870 shekels) (Reporting by Steven Scheer)

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