Elco Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 30, 2023 at 12:35 am
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Elco Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was ILS 4,943.33 million compared to ILS 4,686.81 million a year ago. Revenue was ILS 4,890.58 million compared to ILS 4,807.87 million a year ago. Net loss was ILS 70.53 million compared to net income of ILS 146.14 million a year ago. Basic loss per share from continuing operations was ILS 2.6 compared to basic earnings per share from continuing operations of ILS 5.38 a year ago. Diluted loss per share from continuing operations was ILS 2.61.
For the nine months, sales was ILS 14,169.51 million compared to ILS 13,857.41 million a year ago. Revenue was ILS 14,237.64 million compared to ILS 14,366.63 million a year ago. Net loss was ILS 192.99 million compared to net income of ILS 625.97 million a year ago. Basic loss per share from continuing operations was ILS 7.11 compared to basic earnings per share from continuing operations of ILS 22.94 a year ago. Diluted loss per share from continuing operations was ILS 7.12 compared to diluted earnings per share from continuing operations of ILS 22.53 a year ago.
Elco Ltd, formerly Elco Holdings Ltd, is an Israel-based industrial group. The Companies activities are conducted through its subsidiaries, namely Electra Ltd that delivers solutions in electromechanical systems, real estate development and construction, facility management and large-scale infrastructure; Electra Consumer Products Ltd, that manufactures, imports, exports, markets and distributes a range of international and local brands in major appliances, small appliances, air conditioners and consumer electronics; Elco-Landmark Residential engaged in investment, upgrade, leasing and management of under-performing multi-family apartment complexes in the southeastern states, and Electra Real Estate, a development and investment company for commercial properties, including office buildings, shopping malls, logistics centers and hotels, as well as some residential property.