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TEL AVIV, ISRAEL -- EZ Energy reported net profit of $4.66 million in 2009, compared with a net loss of $1.3 million in 2008, according to Globes Online.
The company, which operates 92 gasoline stations and convenience stores in Ohio and Pennsylvania, reported a 44.4-percent rise in revenue to $309.89 million for the full year of 2009, compared with $214.86 million in 2008, according to the news organization. The gain in revenue came primarily from the acquisition of 41 new stations in May and June last year. Also, the results for 15 stores bought in September 2008 were included for the first full calendar year.
EZ Energy buys and operates stations and stores, selling the property to real estate investment trusts (REITs) or other investors. The addition of stores led to an 87 percent jump in the amount of fuel sold, according to Globes Online. Last year, the stores sold 125.3 million gallons, up from 67.1 million in 2008.
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