Kerur Holdings Ltd. said its normalized net income for the third quarter was 1.61 shekels per share, an increase of 26.3% from 1.28 shekels per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.3 million shekels, a gain of 26.7% from 16.0 million shekels in the prior-year period.

The normalized profit margin rose to 7.3% from 6.1% in the year-earlier period.

Total revenue climbed 5.6% year over year to 278.3 million shekels from 263.4 million shekels, and total operating expenses rose 6.3% year over year to 230.9 million shekels from 217.2 million shekels.

Reported net income increased 20.8% on an annual basis to 26.7 million shekels, or 2.12 shekels per share, from 22.1 million shekels, or 1.76 shekels per share.

As of Nov. 24, US$1 was equivalent to 3.86 shekels.