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Zanlakol Q2 profit climbs 31.8% YOY

Zanlakol Ltd. said its normalized net income for the second quarter amounted to 34 agorot per share, an increase of 31.9% from 25 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 4.8 million shekels, a gain of 31.8% from 3.6 million shekels in the year-earlier period.

The normalized profit margin rose to 8.7% from 7.2% in the year-earlier period.

Total revenue rose 9.2% year over year to 54.9 million shekels from 50.3 million shekels, and total operating expenses grew 6.8% year over year to 46.4 million shekels from 43.5 million shekels.

Reported net income rose 33.6% from the prior-year period to 5.8 million shekels, or 40 agorot per share, from 4.3 million shekels, or 30 agorot per share.

As of Aug. 19, US$1 was equivalent to 3.76 shekels.