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Cofix Group Q3 profit climbs 78.2% YOY

Cofix Group Ltd. said its third-quarter normalized net income amounted to 14 agorot per share, a gain of 50.1% from 9 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 1.7 million shekels, an increase of 78.2% from 975,000 shekels in the prior-year period.

The normalized profit margin dropped to 2.4% from 2.8% in the year-earlier period.

Total revenue increased year over year to 73.3 million shekels from 35.0 million shekels, and total operating expenses climbed year over year to 71.6 million shekels from 33.4 million shekels.

Reported net income rose 78.1% from the prior-year period to 1.9 million shekels, or 15 agorot per share, from 1.1 million shekels, or 10 agorot per share.

As of Nov. 29, US$1 was equivalent to 3.84 shekels.