Government-owned investment firm Israel Corporation Ltd.’s (IRLCF) net profit jumped to $320 million in the first quarter of 2022 from $55 million in the previous year.
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It ended the quarter with total financial liabilities of around $1.6 billion and investments in liquid assets of $871 million. Further, as of March 31, Israel Corp.’s net debt stood at $686 million.
According to TipRanks’ Earnings tool, the company reported earnings of $7.02 per share in the first quarter of last year.
The Tel Aviv-based company has ownership in fertilizers and specialty chemicals, energy, shipping and transportation companies. It generates 70% of its revenues from international operations and conducts 50% of its manufacturing activities outside Israel.
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