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Stock Market & Financial Investment News

News Breaks
June 20, 2011
09:00 EDTBSIAlon Holdings Blue Square falls 4.5%
Alon Holdings Blue Square is down 4.5%, or 40c, to $8.43
News For BSI From The Last 14 Days
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August 19, 2015
16:44 EDTBSIAlon Blue Square Israel Ltd. sees Q2 one-time write-off NIS 500M-NIS 570M
Alon Blue Square Israel Ltd. announced that the financial statements of its subsidiary Mega Retail Ltd. for the six month period ended June 30 have been approved. Mega Retail recorded a loss of approximately NIS 55M attributable to operations at supermarket branches expected to continue operations, and an additional loss of approximately NIS 577M attributable to one-time write-offs, one-time expenses (including expenses due to efficiency measures), and losses attributable to supermarket branches which ceased operations (out of which the amount of approximately NIS 360M is due to balance sheet write-offs of goodwill, intangible and fixed assets, that have no current or future effect on the cash flow). The total losses recorded by Mega Retail for the six month period ended June 30 are approximately NIS 632N. Since August 1, Mega is operating according to the Creditor's Arrangement as approved by the District Court. The Company is expected to record a one-time write-off in an amount of approximately NIS 250M-300M attributable to write-offs on account of loss of goodwill recorded with respect to Mega Retail's assets as well as with respect to other assets of the Company, such as Diners Club Israel Ltd. and Naaman Group Ltd. influenced by Mega Retail's financial situation. The Total amount of write-offs and one-time expenses (including the Company's share in the one-time write-offs and expenses of Mega) is expected to be approximately NIS 500M-NIS 570M. The Company has yet to complete its review of the second quarter financial results, and is therefore unable at this time to provide final amounts and data for the period ended June 30. Final results of the Company may also be influenced by other factors not included in this report. Consequently, projections are preliminary in nature, may be different, and are subject to possible changes based on final review. In connection with the publication of its financial results for the six month period ended June 30, the Company shall also provide further information on the financial results of Mega Retail for such period. The Company is filing this report due to the particular results provided herein.

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