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Rami Levi Hashikma Marketing Q3 profit climbs YOY

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. said its third-quarter normalized net income amounted to 1.77 shekels per share, an increase from 88 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 23.8 million shekels, an increase from 11.9 million shekels in the year-earlier period.

The normalized profit margin increased to 2.0% from 1.2% in the year-earlier period.

Total revenue increased 21.2% on an annual basis to 1.24 billion shekels from 1.02 billion shekels, and total operating expenses climbed 19.7% on an annual basis to 1.20 billion shekels from 1.00 billion shekels.

Reported net income grew 87.6% from the prior-year period to 29.7 million shekels, or 2.21 shekels per share, from 15.8 million shekels, or 1.18 shekels per share.

As of Nov. 24, US$1 was equivalent to 3.87 shekels.