B.Yair Building Corp. 1988 Ltd. said its normalized net income for the fourth quarter came to 2.86 shekels per share, compared with a loss of 14 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 28.8 million shekels, compared with a loss of 1.0 million shekels in the year-earlier period.
The normalized profit margin climbed to 12.3% from negative 3.0% in the year-earlier period.
Total revenue increased on an annual basis to 234.9 million shekels from 35.1 million shekels, and total operating expenses grew year over year to 186.6 million shekels from 32.0 million shekels.
Reported net income rose from the prior-year period to 39.4 million shekels, or 3.91 shekels per share, from 5.2 million shekels, or 42 agorot per share.
For the year, the company's normalized net income totaled 4.95 shekels per share, an increase from 1.75 shekels per share in the prior year.
Normalized net income was 34.7 million shekels, an increase from 12.5 million shekels in the prior year.
Full-year total revenue increased 48.0% from the prior-year period to 532.9 million shekels from 360.0 million shekels, and total operating expenses rose 46.5% on an annual basis to 464.0 million shekels from 316.7 million shekels.
The company said reported net income grew 11.9% year over year to 46.9 million shekels, or 6.69 shekels per share, in the full year, from 41.9 million shekels, or 5.85 shekels per share.
As of March 30, US$1 was equivalent to 3.78 shekels.