Real estate group Azrieli Q3 profit falls on one-time writedown

November 18, 2015 8:49 AM

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TEL AVIV Nov 18 Israeli real estate developer Azrieli Group reported lower quarterly profit on Wednesday due to a one-time writedown at its Granite HaCarmel subsidiary.

The company, which built Israel's first shopping malls and Tel Aviv's Azrieli office and shopping complex, posted third-quarter net profit of 101 million shekels ($26 million), down from 170 million a year earlier.

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