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Castro Model Q1 profit climbs YOY

Castro Model Ltd. said its normalized net income for the first quarter was 79 agorot per share, an increase from 36 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 4.1 million shekels, an increase from 1.7 million shekels in the year-earlier period.

The normalized profit margin climbed to 1.9% from 0.9% in the year-earlier period.

Total revenue increased 10.2% year over year to 217.8 million shekels from 197.7 million shekels, and total operating expenses rose 10.4% on an annual basis to 217.6 million shekels from 197.2 million shekels.

Reported net income rose from the prior-year period to 5.1 million shekels, or 1 shekel per share, from 2.4 million shekels, or 50 agorot per share.

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