Tiv Ta’am tastes healthy profits

Revenue and revenue per sq.m. in identical stores grew by 21.2% and 24.9%, respectively, compared with a year earlier.

MARCH 17, 2021 21:04

Tiv Taam (photo credit: Courtesy) — Tiv Taam

(photo credit: Courtesy)

Tiv Ta’am Group on Wednesday announced that its 2020 profits reached an all-time high as revenues grew by 14.8% and amounted to NIS 1.579 million, compared to NIS 1.375m. in the previous year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) – excluding IFRS 16 – increased by 79.8% and amounted to NIS 123.7m., compared with NIS 68.8m. in 2019.

Net income jumped by 238.8% and amounted to NIS 61.4m., compared with NIS 18.1m. the year before.

Revenue and revenue per sq.m. in identical stores grew by 21.2% and 24.9%, respectively, compared with a year earlier.