Ralco Agencies Ltd. said its normalized net income for the fourth quarter was 52 agorot per share, a gain of 86.2% from 28 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 2.1 million shekels, an increase of 75.5% from 1.2 million shekels in the year-earlier period.
The normalized profit margin increased to 3.8% from 2.5% in the year-earlier period.
Total revenue increased 12.3% year over year to 55.0 million shekels from 49.0 million shekels, and total operating expenses rose 8.2% on an annual basis to 49.9 million shekels from 46.1 million shekels.
Reported net income increased 56.6% on an annual basis to 2.6 million shekels, or 63 agorot per share, from 1.6 million shekels, or 37 agorot per share.
For the year, the company's normalized net income totaled 2.25 shekels per share, a gain of 34.8% from 1.67 shekels per share in the prior year.
Normalized net income was 9.0 million shekels, an increase of 31.4% from 6.9 million shekels in the prior year.
Full-year total revenue rose from the prior-year period to 225.9 million shekels from 217.5 million shekels, and total operating expenses rose year over year to 203.2 million shekels from 199.2 million shekels.
The company said reported net income rose 24.9% on an annual basis to 10.2 million shekels, or 2.55 shekels per share, in the full year, from 8.2 million shekels, or 1.99 shekels per share.
As of March 14, US$1 was equivalent to 3.89 shekels.