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Hamama Meir Trading swings to loss in Q4

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Hamama Meir Trading swings to loss in Q4

4913044 said its fourth-quarter normalized net income came to a loss of 24 agorot per share, compared with 1 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 a loss of 3.4 million shekels, compared with income of 165,000 shekels in the prior-year period.

The normalized profit margin fell to negative 2.8% from 0.1% in the year-earlier period.

Total revenue fell 9.8% on an annual basis to 123.4 million shekels from 136.8 million shekels, and total operating expenses fell from the prior-year period to 126.7 million shekels from 130.9 million shekels.

Reported net income came to a loss of 5.4 million shekels, or a loss of 38 agorot per share, compared to income of 361,450 shekels, or 2 agorot per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 82 agorot per share, compared with 29 agorot per share in the prior year.

Normalized net income was a loss of 11.6 million shekels, compared with income of 4.1 million shekels in the prior year.

Full-year total revenue fell 7.7% from the prior-year period to 484.6 million shekels from 525.3 million shekels, and total operating expenses decreased year over year to 495.5 million shekels from 505.0 million shekels.

The company said reported net income totaled a loss of 15.2 million shekels, or a loss of 1.07 shekels per share, in the full year, compared with income of 5.0 million shekels, or 35 agorot per share, the prior year.

s of March 24, US$1 was equivalent to 3.83 shekels.Hamama Meir Trading (1996) Ltd.

4913044 said its fourth-quarter normalized net income came to a loss of 24 agorot per share, compared with 1 agorot per share in the prior-year period.