Introduction – Dunitz brothers Ltd. Co is Israeli company founded in 1968 as private limited company.
In 1992 the company changed its name to Dunitz brothers Ltd, the company went  public in
1 993. The company is traded in the TASE. Dunitz Brothers Ltd works directly and indirectly through its subsidiaries in the constructions businesses, 49 employees are reported for December 2009The company's main activities are initiating, planning, developing and marketing of project for dwelling and commerce; for sell and rent; or rent and manage services, both directly by the company or by joint deals with other constructors. The company is dealing with 16 different projects including 2800 units (data correct for December 31, 2009). In addition the company provides assets management services (Lev Rishon parking and Lev Rishon maintenance). The address of its registered office is 65 Zabotinski St. Rishon Letzion.
The main activity of the company is in the center of Israel, since it’s predicting steady demand for apartments in this area. The company operates as holding company when each site is treated as separate company:
The holdings for December 31, 209 are detailed below: Accounting policies – the company has adjusted its reports to the IFRS since January 2008. According to standard No.
18 the income in this industry is recognized only when the company delivers the ownership to the costumers, and advanced payments considered as liabilities for the company. This policy creates situation when incomes on current deals can be recognized more than year from signing contract.  We assume that high sales in 2008 are due to
2 007 results and the improved results in 2009 will be reflected in 2010 and
2 011 results. The company reported on new signed contracts for apartment in the amount of 105,224 and 144,099 thousand NIS in 2008 and 2009, respectively. The production capacity of the company depends on the land inventories; the company currently holds land in few locations in the center of Israel, this factor will provide the opportunity for growth in the future. Dependent on suppliers, the company depends on the Israeli electric company and on Nesher Company (cement vendor) as single suppliers; this is shared to all the Israelis construction companies. In addition, the company assumes that it dependent on the experience of the CEO Mr. Ahiezra and defined him as key employee. During the years the company repurchased its stocks (3.5%) in the TASE, 1602 thousand NIS were invested before January 01,
2 007. 405 thousand NIS invested in stock repurchase during 2008, total of 2007
thousand NIS were invested in repurchase of shares so far. During 2009
interested parties (CEO) converted their options in the TASE in return to 673
thousand NIS.
Dividends – although the company has no specific dividend policy, it distributed dividends during the last 5 years (including dividend in 2010).