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Azorim swings to loss in Q3

4984805 said its third-quarter normalized net income came to a loss of 1.9 million shekels, compared with income of 3.9 million shekels in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.1% from 4.3% in the year-earlier period.

Total revenue grew year over year to 253.9 million shekels from 91.1 million shekels, and total operating expenses rose from the prior-year period to 245.8 million shekels from 69.3 million shekels.

Reported net income increased from the prior-year period to 4.9 million shekels, or 2 agorot per share, from 1.0 million shekels, or 1 agorot per share.

s of Nov. 30, US$1 was equivalent to 3.83 shekels.Azorim Investment Development & Construction Co. Ltd.

4984805 said its third-quarter normalized net income came to a loss of 1.9 million shekels, compared with income of 3.9 million shekels in the year-earlier period.