trending Market Intelligence /marketintelligence/en/news-insights/trending/dHmu7fzWI67EwJckk0w5Yw2 content esgSubNav
In This List

STG International swings to loss in Q1

Case Study

A Green Lender Adopts a Robust Approach for Assessing Project Finance Credit Risks

Podcast

MediaTalk | Season 2
Ep.1: Broadcast's Big Year

Blog

Global M&A by the Numbers Q4 2023

Blog

Banking Essentials Newsletter 21st February Edition


STG International swings to loss in Q1

STG International Ltd. said its normalized net income for the first quarter amounted to a loss of 7 agorot per share, compared with 15 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 a loss of 309,380 shekels, compared with income of 653,750 shekels in the prior-year period.

The normalized profit margin dropped to negative 1.7% from 2.8% in the year-earlier period.

Total revenue decreased 22.2% on an annual basis to 18.4 million shekels from 23.6 million shekels, and total operating expenses decreased 17.4% from the prior-year period to 19.2 million shekels from 23.2 million shekels.

Reported net income came to a loss of 419,000 shekels, or a loss of 10 agorot per share, compared to income of 1.1 million shekels, or 25 agorot per share, in the year-earlier period.

As of May 11, US$1 was equivalent to 3.75 shekels.