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Issta Lines Q2 profit climbs 46.6% YOY

Issta Lines Ltd. said its second-quarter normalized net income was 93 agorot per share, a gain of 48.4% from 63 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 9.8 million shekels, a gain of 46.6% from 6.7 million shekels in the prior-year period.

The normalized profit margin climbed to 9.6% from 7.4% in the year-earlier period.

Total revenue increased 47.8% on an annual basis to 134.1 million shekels from 90.8 million shekels, and total operating expenses climbed 52.5% year over year to 121.5 million shekels from 79.7 million shekels.

Reported net income fell 32.1% from the prior-year period to 12.3 million shekels, or 1.16 shekels per share, from 18.1 million shekels, or 1.69 shekels per share.

As of Aug. 17, US$1 was equivalent to 3.79 shekels.