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Fox-Wizel Q2 profit falls YOY

Fox-Wizel Ltd. said its normalized net income for the second quarter came to 1.03 shekels per share, a decline of 32.4% from 1.53 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 13.9 million shekels, a decrease of 31.7% from 20.4 million shekels in the year-earlier period.

The normalized profit margin dropped to 4.4% from 7.1% in the year-earlier period.

Total revenue rose 11.9% year over year to 323.5 million shekels from 289.2 million shekels, and total operating expenses grew 13.9% on an annual basis to 295.0 million shekels from 259.0 million shekels.

Reported net income fell 41.5% on an annual basis to 15.3 million shekels, or 1.13 shekels per share, from 26.1 million shekels, or 1.95 shekels per share.

As of Aug. 18, US$1 was equivalent to 3.86 shekels.