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Sano Bruno's Enterprises Ltd. Q1 profit falls YOY

Sano Bruno's Enterprises Ltd. said its normalized net income for the first quarter amounted to 1.98 shekels per share, a decline of 14.4% from 2.31 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 22.3 million shekels, a decline of 14.4% from 26.0 million shekels in the year-earlier period.

The normalized profit margin declined to 5.7% from 6.6% in the year-earlier period.

Total revenue fell on an annual basis to 388.9 million shekels from 395.4 million shekels, and total operating expenses came to 349.2 million shekels, compared with 349.8 million shekels in the year-earlier period.

Reported net income declined 10.0% on an annual basis to 25.6 million shekels, or 2.28 shekels per share, from 28.5 million shekels, or 2.53 shekels per share.

As of May 21, US$1 was equivalent to 3.87 shekels.