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Tiv Taam Holdings 1 Q3 profit climbs YOY

Tiv Taam Holdings 1 Ltd. said its third-quarter normalized net income amounted to 5 agorot per share, an increase from 2 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.6 million shekels, a gain from 2.6 million shekels in the year-earlier period.

The normalized profit margin rose to 1.7% from 0.9% in the year-earlier period.

Total revenue grew 14.3% year over year to 331.7 million shekels from 290.2 million shekels, and total operating expenses rose 13.2% from the prior-year period to 321.0 million shekels from 283.6 million shekels.

Reported net income increased 74.2% year over year to 6.1 million shekels, or 6 agorot per share, from 3.5 million shekels, or 3 agorot per share.

As of Nov. 25, US$1 was equivalent to 3.88 shekels.