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Componenta Dökümcülük Q2 profit falls YOY

Componenta Dökümcülük Ticaret ve Sanayi AS said its normalized net income for the second quarter was 9 kurus per share, a decline of 32.4% from 13 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 5.5 million lira, a decrease of 33.3% from 8.2 million lira in the year-earlier period.

The normalized profit margin dropped to 2.7% from 4.5% in the year-earlier period.

Total revenue climbed 11.3% year over year to 204.5 million lira from 183.6 million lira, and total operating expenses increased on an annual basis to 175.5 million lira from 167.3 million lira.

Reported net income decreased 27.6% from the prior-year period to 7.1 million lira, or 11 kurus per share, from 9.8 million lira, or 15 kurus per share.

As of July 15, US$1 was equivalent to 2.65 Turkish lira.