Retail

Alliance continues upward trajectory

Posted on December 9, 2004

Alliance Tire Co. enjoyed its third consecutive quarter of profits after three successive years of losses during the third quarter.

The Hadera, Israel-based specialty tiremaker achieved a third quarter net profit of $102,000. It lost $1.66 million during the same period last year.

Alliance also posted a 26.3% gain in sales during 3Q 2004 to $29.7 million, plus an operating profit of $1.8 million vs. $835,000 during 3Q 2003.

Alliance´s net profits for the first nine months of 2004 totaled $3.7 million, while its sales jumped 29% over the same period last year to $93.4 million.

Isia Tchetchik, Alliance´s chairman, says the company´s growth "demonstrates that Alliance is experiencing a solid and sustained improvement in business performance."

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