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Article Excerpt
TEL-AVIV, Israel, Feb. 24 /PRNewswire/ -- Carmel Container Systems Ltd. ("Carmel" or the "Company"), a leading Israeli designer, manufacturer and marketer of containers, packaging materials and related products, reported today its consolidated financial results for the year 2004. Ordinary Shares were traded till November 30, 2004 on the American Stock Exchange .
I. Financial Results
The financial results for the year 2004 were primarily influenced by the following factors:
-- This year has been characterized by improvements in the Israeli economy which has been expressed in many fields of economic activity, particularly, growth in the export and local market demand. Such improvements have had a positive impact on our activities in contrast to the recession that occurred from September 2000 to December 2003. -- Improvement in local demand for customer goods and private consumption. -- Slight increase in the industrial exports to the United States and Europe. -- Growth in the gross national product that exceeded forecasts, mainly because of the growth in the business products. -- Decreased tendency in the pace of growth of the Israeli economy in the second half, compared to the beginning of the year. -- There was a growth in the volume of the Hi-Tech export, which encouraged industrial productivity. -- Considerable increase in the cost of raw materials and energy costs....
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