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Carmit Candy Industries Q2 profit climbs 7.2% YOY

Carmit Candy Industries Ltd. said its normalized net income for the second quarter amounted to 16 agorot per share, a gain of 7.2% from 15 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 878,130 shekels, an increase of 7.2% from 819,380 shekels in the prior-year period.

The normalized profit margin rose to 2.6% from 2.6% in the year-earlier period.

Total revenue climbed 6.0% year over year to 33.2 million shekels from 31.4 million shekels, and total operating expenses increased on an annual basis to 31.6 million shekels from 30.1 million shekels.

Reported net income grew 28.8% from the prior-year period to 1.2 million shekels, or 21 agorot per share, from 930,000 shekels, or 17 agorot per share.

As of Aug. 11, US$1 was equivalent to 3.81 shekels.