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Electra Consumer Products Q2 profit climbs YOY

Electra Consumer Products (1970) Ltd. said its second-quarter normalized net income came to 1.40 shekels per share, a gain from 68 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 31.2 million shekels, an increase from 14.8 million shekels in the year-earlier period.

The normalized profit margin increased to 3.2% from 2.2% in the year-earlier period.

Total revenue climbed 26.1% year over year to 842.1 million shekels from 667.7 million shekels, and total operating expenses rose 22.3% year over year to 787.1 million shekels from 643.8 million shekels.

Reported net income increased from the prior-year period to 37.8 million shekels, or 1.70 shekels per share, from 18.4 million shekels, or 85 agorot per share.

As of Aug. 10, US$1 was equivalent to 3.81 shekels.