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Shufersal Q4 profit climbs YOY

Shufersal Ltd. said its normalized net income for the fourth quarter came to 30 agorot per share, an increase from 12 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 65.8 million shekels, a gain from 25.1 million shekels in the year-earlier period.

The normalized profit margin increased to 1.8% from 0.9% in the year-earlier period.

Total revenue increased on an annual basis to 2.92 billion shekels from 2.81 billion shekels, and total operating expenses climbed year over year to 2.81 billion shekels from 2.77 billion shekels.

Reported net income increased 93.6% year over year to 74.7 million shekels, or 34 agorot per share, from 38.6 million shekels, or 18 agorot per share.

For the year, the company's normalized net income totaled 60 agorot per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 53 agorot.

EPS was a loss of 41 agorot in the prior year.

Normalized net income was 126.4 million shekels, compared with a loss of 88.0 million shekels in the prior year.

Full-year total revenue totaled 11.51 billion shekels, compared with 11.60 billion shekels in the prior year, and total operating expenses fell on an annual basis to 11.21 billion shekels from 11.65 billion shekels.

The company said reported net income came to 150.7 million shekels, or 71 agorot per share, in the full year, compared with a loss of 110.4 million shekels, or a loss of 52 agorot per share, the prior year.

As of Feb. 29, US$1 was equivalent to 3.90 shekels.