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Neto M.E Holdings Q3 profit climbs 13.7% YOY

Neto M.E Holdings Ltd. said its third-quarter normalized net income amounted to 7.38 shekels per share, a gain of 13.7% from 6.49 shekels per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.2 million shekels, an increase of 13.7% from 22.1 million shekels in the year-earlier period.

The normalized profit margin rose to 3.6% from 3.3% in the year-earlier period.

Total revenue climbed year over year to 699.3 million shekels from 678.5 million shekels, and total operating expenses increased from the prior-year period to 650.2 million shekels from 640.3 million shekels.

Reported net income rose 9.9% on an annual basis to 33.8 million shekels, or 9.91 shekels per share, from 30.7 million shekels, or 9.02 shekels per share.

As of Nov. 30, US$1 was equivalent to 3.83 shekels.