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Zanlakol Q1 profit climbs 9.8% YOY

Zanlakol Ltd. said its normalized net income for the first quarter amounted to 25 agorot per share, an increase of 10.6% from 22 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.5 million shekels, a gain of 9.8% from 3.2 million shekels in the year-earlier period.

The normalized profit margin increased to 7.0% from 7.0% in the year-earlier period.

Total revenue climbed 9.1% on an annual basis to 50.7 million shekels from 46.5 million shekels, and total operating expenses rose 9.2% on an annual basis to 44.2 million shekels from 40.5 million shekels.

Reported net income grew 45.0% year over year to 5.5 million shekels, or 39 agorot per share, from 3.8 million shekels, or 27 agorot per share.

As of May 26, US$1 was equivalent to 3.83 shekels.