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Fox-Wizel Q3 profit falls YOY

Fox-Wizel Ltd. said its normalized net income for the third quarter amounted to 73 agorot per share, a decrease of 15.2% from 86 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 9.8 million shekels, a decrease of 14.7% from 11.5 million shekels in the prior-year period.

The normalized profit margin fell to 3.1% from 4.4% in the year-earlier period.

Total revenue rose 15.0% on an annual basis to 304.7 million shekels from 264.9 million shekels, and total operating expenses increased 18.0% from the prior-year period to 306.6 million shekels from 259.8 million shekels.

Reported net income declined 28.5% from the prior-year period to 12.9 million shekels, or 96 agorot per share, from 18.1 million shekels, or 1.35 shekels per share.

As of Nov. 17, US$1 was equivalent to 3.91 shekels.