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Viking Pulp & Paper Q2 loss narrows YOY

Viking Kagit ve Selüloz AS said its second-quarter normalized net income was a loss of 8 kurus per share, compared with a loss of 34 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.7 million lira, compared with a loss of 4.0 million lira in the year-earlier period.

The normalized profit margin increased to negative 4.1% from negative 11.5% in the year-earlier period.

Total revenue increased 19.4% on an annual basis to 41.6 million lira from 34.8 million lira, and total operating expenses increased 15.5% on an annual basis to 40.1 million lira from 34.7 million lira.

Reported net income totaled a loss of 2.7 million lira, or a loss of 13 kurus per share, compared to a loss of 6.3 million lira, or a loss of 54 kurus per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.