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Strauss Group Q2 profit climbs 13.7% YOY

Strauss Group Ltd. said its normalized net income for the second quarter amounted to 32 agorot per share, an increase of 10.3% from 29 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 35.4 million shekels, an increase of 13.7% from 31.1 million shekels in the year-earlier period.

The normalized profit margin rose to 2.9% from 2.5% in the year-earlier period.

Total revenue fell on an annual basis to 1.21 billion shekels from 1.27 billion shekels, and total operating expenses fell 7.4% year over year to 1.10 billion shekels from 1.19 billion shekels.

Reported net income rose 79.3% on an annual basis to 52.0 million shekels, or 47 agorot per share, from 29.0 million shekels, or 27 agorot per share.

As of Aug. 20, US$1 was equivalent to 3.87 shekels.