May 24, 2017 / 10:03 AM / 3 months ago

Israeli supermarket chain Shufersal Q1 profit, revenue up

TEL AVIV, May 24 (Reuters) -

* Shufersal, Israel's largest supermarket chain, said on Wednesday net profit was up in the first quarter, boosted by its private label products that now account for more than a fifth of all sales.

* The company posted net profit of 65 million shekels ($18 million), up from 53 million shekels a year earlier. Revenue edged up 1.5 percent to 2.9 billion shekels.

* Same store sales in the quarter were unchanged.

* Shufersal is controlled by holding company Discount Investment Corp.($1 = 3.5937 shekels) (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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