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Sönmez Filament Q1 profit falls YOY

4915725 said its first-quarter normalized net income amounted to 1 kurus per share, a decline of 42.0% from 2 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 636,970 lira, a decrease of 41.9% from 1.1 million lira in the year-earlier period.

The normalized profit margin fell to 58.6% from 114.0% in the year-earlier period.

Total revenue increased 12.9% year over year to 1.1 million lira from 962,560 lira, and total operating expenses declined 82.3% on an annual basis to 524,570 lira from 3.0 million lira.

eported net income decreased 39.0% on an annual Sönmez Filament Sentetik Iplik ve Elyaf Sanayi AS.