Dan Hotels Ltd said its normalized net income for the third quarter came to 22 agorot per share, compared with a loss of 3 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 21.2 million shekels, compared with a loss of 3.0 million shekels in the year-earlier period.
The normalized profit margin climbed to 6.8% from negative 1.2% in the year-earlier period.
Total revenue climbed 19.7% on an annual basis to 313.0 million shekels from 261.5 million shekels, and total operating expenses increased 10.0% from the prior-year period to 265.8 million shekels from 241.7 million shekels.
Reported net income totaled 24.4 million shekels, or 25 agorot per share, compared to a loss of 4.5 million shekels, or a loss of 5 agorot per share, in the prior-year period.
As of Nov. 24, US$1 was equivalent to 3.86 shekels.