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Yatas Q2 profit falls YOY

Yatas Yatak Ve Yorgan Sanayi Ticaret AS said its normalized net income for the second quarter came to 5 kurus per share, a decline of 19.1% from 6 kurus per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.3 million lira, a decline of 18.5% from 2.8 million lira in the prior-year period.

The normalized profit margin declined to 2.6% from 4.0% in the year-earlier period.

Total revenue grew 25.5% year over year to 86.7 million lira from 69.1 million lira, and total operating expenses increased 25.4% year over year to 78.6 million lira from 62.7 million lira.

Reported net income declined 33.4% from the prior-year period to 2.8 million lira, or 7 kurus per share, from 4.3 million lira, or 10 kurus per share.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.