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Ralco Agencies Q2 profit climbs YOY

Ralco Agencies Ltd. said its second-quarter normalized net income was 65 agorot per share, an increase from 30 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 2.6 million shekels, a gain from 1.2 million shekels in the prior-year period.

The normalized profit margin rose to 4.3% from 2.5% in the year-earlier period.

Total revenue increased 25.3% year over year to 60.8 million shekels from 48.5 million shekels, and total operating expenses increased 20.2% from the prior-year period to 53.9 million shekels from 44.9 million shekels.

Reported net income grew on an annual basis to 3.0 million shekels, or 75 agorot per share, from 1.2 million shekels, or 30 agorot per share.

As of Aug. 10, US$1 was equivalent to 3.81 shekels.