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Rami Levi Hashikma Marketing Q2 profit climbs YOY

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. said its normalized net income for the second quarter amounted to 1.58 shekels per share, an increase from 1.55 shekels per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.3 million shekels, a gain from 20.9 million shekels in the prior-year period.

The normalized profit margin declined to 1.9% from 2.0% in the year-earlier period.

Total revenue rose 10.1% on an annual basis to 1.13 billion shekels from 1.03 billion shekels, and total operating expenses grew 10.3% from the prior-year period to 1.10 billion shekels from 992.8 million shekels.

Reported net income increased 5.5% from the prior-year period to 25.6 million shekels, or 1.90 shekels per share, from 24.3 million shekels, or 1.80 shekels per share.

As of Aug. 25, US$1 was equivalent to 3.76 shekels.