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Ege Endüstri ve Ticaret Q2 profit climbs 62.1% YOY

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Ege Endüstri ve Ticaret Q2 profit climbs 62.1% YOY

Ege Endüstri ve Ticaret AS said its second-quarter normalized net income came to 5.41 Turkish lira per share, an increase of 62.1% from 3.34 lira per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.1 million lira, an increase of 62.1% from 10.5 million lira in the year-earlier period.

The normalized profit margin rose to 27.0% from 16.7% in the year-earlier period.

Total revenue came to 63.1 million lira, compared with 62.9 million lira in the prior-year period, and total operating expenses declined 13.6% on an annual basis to 39.2 million lira from 45.4 million lira.

Reported net income increased 68.0% from the prior-year period to 24.4 million lira, or 7.74 lira per share, from 14.5 million lira, or 4.61 lira per share.

As of Aug. 19, US$1 was equivalent to 2.94 Turkish lira.