Imco Group, a leading developer and manufacturer of advanced systems for defense and civilian industries, has announced impressive financial results for the first half of 2024. The company experienced notable growth in both revenue and profitability compared to the same period last year. Revenue for the first half of 2024 reached approximately 128.1 million shekels, marking a 2.6% increase from the 124.8 million shekels earned in the same period of 2023. This growth is attributed to operational efficiency and structural improvements implemented by the company over the past year. Imco’s gross profit surged, exceeding 25.7 million shekels, surpassing the 20% mark for the first time. This increase reflects the effectiveness of operational streamlining and organizational restructuring undertaken in 2023. The company’s operating profit rose to 7.9 million shekels, compared to 5.1 million shekels in the corresponding period last year. Notably, Imco’s net profit in the first half of 2024 reached 5.3 million shekels, a remarkable 179% increase from the 1.9 million shekels recorded in the same period of 2023. This performance stands out, especially considering the company’s total net profit of 6.2 million shekels for the entire year of 2023. As of the reporting period, Imco’s order book reached a record high of 799 million shekels, a significant increase from the 299 million shekels recorded in the same period last year. This substantial growth in the order book includes long-term multi-year contracts.
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