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Strauss Group Q3 profit falls YOY

Strauss Group Ltd. said its third-quarter normalized net income was 54 agorot per share, a decrease of 6.3% from 58 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 58.6 million shekels, a decrease of 6.9% from 63.0 million shekels in the prior-year period.

The normalized profit margin dropped to 4.3% from 4.5% in the year-earlier period.

Total revenue decreased year over year to 1.36 billion shekels from 1.42 billion shekels, and total operating expenses declined year over year to 1.26 billion shekels from 1.32 billion shekels.

Reported net income declined 9.3% from the prior-year period to 68.0 million shekels, or 63 agorot per share, from 75.0 million shekels, or 69 agorot per share.

As of Nov. 24, US$1 was equivalent to 3.86 shekels.