Gazit-Globe Posts Higher Q4 Profit

Israel's Gazit-Globe

reported a gain in its fourth-quarter profit. Gazit-Globe's quarterly earnings rose to 238 million shekels ($68.3 million), versus 224 million, in the year-ago period. Its rental income fell 7% to 1.27 billion shekels, while funds from operation climbed 7% to 147 million shekels. The company's net operating income declined 6% to 855 million shekels. Gazit-Globe shares closed at $12.95 yesterday.