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Ralco Agencies Q2 profit climbs 51.9% YOY

Ralco Agencies Ltd. said its normalized net income for the second quarter was 30 agorot per share, a gain of 56.9% from 19 agorot per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million shekels, an increase of 51.9% from 788,130 shekels in the prior-year period.

The normalized profit margin increased to 2.5% from 1.5% in the year-earlier period.

Total revenue decreased 9.8% on an annual basis to 48.5 million shekels from 53.8 million shekels, and total operating expenses fell 10.7% from the prior-year period to 44.9 million shekels from 50.2 million shekels.

Reported net income increased 32.0% year over year to 1.2 million shekels, or 30 agorot per share, from 908,000 shekels, or 22 agorot per share.

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