CalcalistEconomy
Migdal Reports Stable Quarterly Profit with 5% Growth in Core Operations
Translated & summarized from Calcalist by baba
Business
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Migdal Insurance posted a net profit of 575 million shekels this quarter, nearly unchanged from last year, with core business profit rising 5%. The company's half-year profit increased 9% to 897 million shekels.
The story in 5 lines · by baba
- Migdal's quarterly net profit reached 575 million shekels, nearly flat year-over-year.
- Core business profit grew by 5% in the reported quarter.
- Half-year profit increased 9% to 897 million shekels from 825 million shekels.
- The slight overall profit growth contrasts with stronger core activity gains.
- The report reflects steady financial performance for Migdal in the insurance sector.
Migdal Insurance announced a net profit of 575 million shekels for the quarter, marking a slight increase of less than one percent compared to the same quarter last year. The company highlighted a 5% growth in profit from its core business activities during this period. For the first half of the year, Migdal's total profit reached 897 million shekels, up 9% from 825 million shekels in the corresponding half of the previous year.
