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Shemen Industries Q1 profit climbs YOY

Shemen Industries Ltd. said its first-quarter normalized net income was 19 agorot per share, a gain from 5 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 4.3 million shekels, an increase from 694,380 shekels in the year-earlier period.

The normalized profit margin climbed to 2.6% from 0.5% in the year-earlier period.

Total revenue climbed 10.4% year over year to 168.8 million shekels from 152.8 million shekels, and total operating expenses rose 7.2% from the prior-year period to 159.1 million shekels from 148.3 million shekels.

Reported net income rose on an annual basis to 5.1 million shekels, or 23 agorot per share, from 815,000 shekels, or 6 agorot per share.

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