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Avgol Q2 profit climbs YOY

Avgol Industries 1953 Ltd said its normalized net income for the second quarter came to $5.8 million, a gain from $2.5 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.9% from 3.2% in the year-earlier period.

Total revenue increased 5.1% year over year to $83.7 million from $79.6 million, and total operating expenses grew on an annual basis to $72.0 million from $69.5 million.

Reported net income grew year over year to $7.4 million, or 2 cents per share, from $1.8 million, or 1 cents per share.