Scope Metals Group Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 22, 2023 at 09:20 am EST
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Scope Metals Group 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 402.3 million compared to ILS 408.9 million a year ago. Net income was ILS 33.43 million compared to ILS 45.77 million a year ago. Basic earnings per share from continuing operations was ILS 2.73 compared to ILS 3.74 a year ago. Diluted earnings per share from continuing operations was ILS 2.73 compared to ILS 3.74 a year ago.
For the nine months, sales was ILS 1,217.58 million compared to ILS 1,278.11 million a year ago. Net income was ILS 116.36 million compared to ILS 176.85 million a year ago. Basic earnings per share from continuing operations was ILS 9.51 compared to ILS 14.97 a year ago. Diluted earnings per share from continuing operations was ILS 9.51 compared to ILS 14.97 a year ago.
Scope Metals Group Ltd. is a supplier of stainless steel, aluminum, steel and steel alloys, magnesium, nickel alloys, brass, bronze, copper, lead and titanium. The Company offers products of various categories, such as raw materials, aerospace materials, fire protection systems, air conditioning (AC) and ventilation, sewage and water, industrial systems, and sanitary and pharmaceutical. The Company's products include metals and engineering plastics; pipes, fittings, valves and accessories; welding equipment and accessories; fasteners, and decorative products. The Company's metals and engineering plastics include plates, sheets, coils, bars, beams, extrusions, pipes, tubes and wires. Its pipes, fittings, valves and accessories are used in fire protection systems, steam and ventilation systems, food and clean industries, sewage and water systems, and infrastructure supplies. It offers decorative products, such as stairs and railings, floor gratings and decorative stainless steel sheets.