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Dor Alon Energy In Israel Q2 profit climbs 14.9% YOY

Dor Alon Energy In Israel (1988) Ltd. said its normalized net income for the second quarter was 1.07 shekels per share, an increase of 11.8% from 95 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 15.8 million shekels, a gain of 14.9% from 13.8 million shekels in the year-earlier period.

The normalized profit margin climbed to 1.5% from 1.1% in the year-earlier period.

Total revenue fell 13.6% year over year to 1.09 billion shekels from 1.26 billion shekels, and total operating expenses fell 14.1% from the prior-year period to 1.05 billion shekels from 1.22 billion shekels.

Reported net income declined 54.6% on an annual basis to 7.9 million shekels, or 53 agorot per share, from 17.3 million shekels, or 1.20 shekels per share.

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