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Neto Malinda Trading Q2 profit climbs YOY

Neto Malinda Trading Ltd. said its normalized net income for the second quarter was 39 agorot per share, an increase from 38 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 7.7 million shekels, an increase from 7.5 million shekels in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.3% in the year-earlier period.

Total revenue decreased 7.6% year over year to 536.3 million shekels from 580.7 million shekels, and total operating expenses fell 7.3% on an annual basis to 522.4 million shekels from 563.4 million shekels.

Reported net income fell on an annual basis to 9.6 million shekels, or 49 agorot per share, from 10.1 million shekels, or 51 agorot per share.

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