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N.R. Spuntech Industries Q3 profit climbs 29.9% YOY

N.R. Spuntech Industries Ltd. said its normalized net income for the third quarter amounted to 22 agorot per share, a gain of 34.2% from 16 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 14.3 million shekels, an increase of 29.9% from 11.0 million shekels in the year-earlier period.

The normalized profit margin rose to 11.7% from 8.3% in the year-earlier period.

Total revenue declined 7.4% year over year to 122.7 million shekels from 132.6 million shekels, and total operating expenses decreased 13.2% year over year to 97.7 million shekels from 112.5 million shekels.

Reported net income increased 32.5% year over year to 16.9 million shekels, or 26 agorot per share, from 12.8 million shekels, or 19 agorot per share.

As of Nov. 24, US$1 was equivalent to 3.86 shekels.