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Neto Malinda Trading Q3 profit climbs 36.3% YOY

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Neto Malinda Trading Q3 profit climbs 36.3% YOY

Neto Malinda Trading Ltd. said its normalized net income for the third quarter came to 87 agorot per share, an increase of 36.3% from 64 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.1 million shekels, a gain of 36.3% from 12.6 million shekels in the year-earlier period.

The normalized profit margin climbed to 2.8% from 2.0% in the year-earlier period.

Total revenue decreased year over year to 606.2 million shekels from 627.9 million shekels, and total operating expenses decreased year over year to 572.8 million shekels from 601.8 million shekels.

Reported net income grew 40.7% on an annual basis to 21.6 million shekels, or 1.09 shekels per share, from 15.4 million shekels, or 78 agorot per share.

As of Nov. 26, US$1 was equivalent to 3.88 shekels.