Profit at Electra Real Estate rises

The company greatly increased its financing to invest in the US, Canada, Europe, and India. The company posted NIS 268.9 million revenue for the second quarter, up 60% on the NIS 167.7 million for the corresponding quarter. Revenue from rent, management fees and other items more than doubled to NIS 157 million for the second quarter from NIS 68.3 million for the corresponding quarter. The second quarter figure includes NIS 177.2 million for the revaluation of properties, mostly in Germany, Canada, and Israel, following the switch to International Financial Reporting Standards (IFRS).