Y.H Dimri: revenues of NIS 375 million in the second quarter of 2021 - a jump of about 68 %

Y.H Dimri joins the real estate companies that enjoyed the high demand and the rise in apartment prices. The company reported revenues of NIS 375 million in the second quarter of 2021, compared to revenues of NIS 223 million in the corresponding quarter in 2020 - a jump of about 68 %.
The gross profit in the second quarter amounted to NIS 117 million, compared with NIS 69 million in the second quarter of 2020. The gross profit ratio was about 30% of revenues. Net profit jumped more than 100% to NIS 60.7 million, compared with NIS 28 million in the corresponding quarter.
In the second quarter, YH Damari sold 242 apartments in Israel for NIS 484 million. Of this, the company's share amounts to 224 apartments sold for NIS 428 million. This is compared to 132 apartments in Israel in the corresponding quarter in 2020 for about NIS 234 million, of which the company's share is 119 apartments for about NIS 213 million. In addition, Damari sold 36 apartments abroad in the second quarter of 2021 for NIS 8 million, compared with ten apartments in the corresponding quarter in 2020 for NIS 2 million.
The company stated that after the reporting period, between July 1 and August 19, it sold about 120 apartments in Israel for about NIS 250 million, of which the company's share is 112 apartments for about NIS 231 million. In the first half of 2021, Damari sold 424 apartments in Israel for about NIS 250 million. NIS 850 million, compared to 284 apartments in the first half of 2020 by NIS 456 million.
These data indicate the huge demand for apartments in Israel. Only in the second quarter of 2021 did Damari sell almost the same number of apartments it sold in the first half of 2020. Revenues in the second quarter of 2021 from the sale of apartments in Israel were higher than revenues in the first half of 2020.
As of the end of the second quarter of 2021, the company has about 2,300 apartments under construction in various projects, about 2,100 apartments in planning projects and land reserves for about 10,000 apartments.
One of Damari's essential income-producing assets, which was one of the most problematic during the Corona period, is Cinema City in Be'er Sheva. The entertainment complex opened just before the Corona plague broke into our lives, in November 2019. Damari notes in reports that Cinema City has resumed operations gradually from February 22, 2021, and that from May 25, cinemas also began operating gradually.