Royal Hali Iplik Tekstil Mobilya Sanayi Ve Ticaret AS said its normalized net income for the first quarter was 8 kurus per share, a decline of 24.9% from 11 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 5.1 million lira, a decrease of 24.9% from 6.7 million lira in the year-earlier period.
The normalized profit margin fell to 7.6% from 8.1% in the year-earlier period.
Total revenue decreased 19.5% year over year to 66.7 million lira from 82.8 million lira, and total operating expenses declined 16.3% from the prior-year period to 61.4 million lira from 73.4 million lira.
Reported net income decreased 20.2% year over year to 7.4 million lira, or 12 kurus per share, from 9.3 million lira, or 16 kurus per share.
As of May 11, US$1 was equivalent to 2.69 Turkish lira.
