Fashion co Golf reports 13.5% rise in sales

Fashion company Golf & Co. (TASE:GOLF), controlled by IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Clal Industries and Investments Ltd. (TASE: CII), published its financial report for the third quarter of 2006 today. The company reported NIS 152 million in sales, 13.5% more than for the corresponding quarter of last year.

Golf posted a gross profit of NIS 81 million, or 53.4% of sales, for the third quarter, slightly higher than the 53.1% gross profit margin for the corresponding quarter. The company�s third quarter net profit of NIS 10.8 million was 83% higher than for the corresponding quarter.

Golf�s labor force rose by 87 persons to 1,402 in the 12 months to September.

The company announced that it would distribute a NIS 25 million dividend on December 7. The ex-date for the dividend is November 22.

Published by Globes [online], Israel business news - www.globes.co.il - on November 12, 2006