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Izmir Firça H1 profit falls YOY

Izmir Firça Sanayi ve Ticaret AS said its normalized net income for the first half came to 1 kurus per share, a decrease of 43.2% 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 200,480 lira, a decrease of 11.9% from 227,560 lira in the year-earlier period.

Total revenue climbed 5.4% on an annual basis to 7.1 million lira from 6.7 million lira, and total operating expenses climbed from the prior-year period to 6.4 million lira from 6.3 million lira.

Reported net income increased year over year to 306,090 lira, or 2 kurus per share, from 292,080 lira, or 3 kurus per share.

As of July 30, US$1 was equivalent to 2.79 Turkish lira.