Ralco Agencies Ltd. said its third-quarter normalized net income was 94 agorot per share, an increase of 38.8% from 67 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 3.7 million shekels, a gain of 37.6% from 2.7 million shekels in the year-earlier period.

The normalized profit margin rose to 5.5% from 4.6% in the year-earlier period.

Total revenue increased 13.3% year over year to 67.2 million shekels from 59.3 million shekels, and total operating expenses climbed 10.7% year over year to 58.4 million shekels from 52.8 million shekels.

Reported net income grew 30.1% on an annual basis to 4.2 million shekels, or 1.05 shekels per share, from 3.2 million shekels, or 80 agorot per share.

As of Nov. 17, US$1 was equivalent to 3.91 shekels.