Shikun & Binui Ltd. reported unaudited consolidated financial results for the first quarter ended March 31, 2016. The Group's revenues for the first quarter of 2016 totaled ILS 1,114 million compared with ILS 1,394 million for the first quarter of 2015, a decline of ILS 280 million. The decrease was primarily due to the International Construction & Infrastructure segment (ILS 269 million) due to a decline in its activities in Nigeria (ILS 57 million of the decrease). The Group's operating profit for the first quarter of 2016 totaled ILS 160 million (14.4% of sales) compared with ILS 270 million (19.3% of sales) for the first quarter of 2015, a ILS 110 million decrease due to a ILS 103 million decline in the operating profit of the International Infrastructure & Construction segment and a ILS 49 million decline in the operating profit of the Israel Real Estate Development segment (which during the first quarter of 2015 recorded a ILS 41 million capital gain from the sale of two income-producing properties). During the first quarter of 2016, the Group recorded ILS 363.9 million in cash flow used for ongoing operation compared with ILS 199.2 million during the first quarter of 2015, an increase of ILS 164.7 million which comes from ILS 108 million increase in the accounts receivable in the Infrastructure & Construction segment (of which ILS 146 million was received after the report date). Profit before taxes on income was ILS 116.157 million against ILS 148.671 million a year ago. Profit attributable to owners of the company was ILS 93.455 million or ILS 0.23 diluted per share against ILS 109.680 million or ILS 0.28 diluted per share a year ago.