Sano Bruno's Enterprises Ltd. said its normalized net income for the third quarter amounted to 2.30 shekels per share, a decline of 10.4% from 2.57 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 25.9 million shekels, a decrease of 10.4% from 28.9 million shekels in the year-earlier period.

The normalized profit margin dropped to 6.9% from 7.4% in the year-earlier period.

Total revenue decreased year over year to 373.7 million shekels from 388.8 million shekels, and total operating expenses decreased on an annual basis to 333.1 million shekels from 342.2 million shekels.

Reported net income declined 8.4% from the prior-year period to 29.8 million shekels, or 2.65 shekels per share, from 32.5 million shekels, or 2.90 shekels per share.

As of Nov. 19, US$1 was equivalent to 3.88 shekels.