JERUSALEM, Feb 22 (Reuters) -
* Shufersal, Israel's largest supermarket chain,
said on Wednesday net profit was up in the fourth quarter,
boosted by its private label products that now account for more
than a fifth of all sales.
* The company posted net profit of 96 million shekels ($25.9
million), up from 77 million shekels a year earlier. Revenue
slipped 1.9 percent to 2.87 billion shekels.
* The company said it will pay a dividend of 160 million
* The company also said its board of directors approved
entering negotiations to buy drug store chain New-Pharm
Drugstores from Hamashbir 365 Holdings.
* Same store sales in the quarter dropped 2.4 percent.
* Shufersal is controlled by holding company Discount
($1 = 3.7038 shekels)
(Reporting by Ari Rabinovitch)