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Kütahya Porselen Sanayi Q2 profit climbs YOY

Kütahya Porselen Sanayi AS said its second-quarter normalized net income amounted to 33 kurus per share, an increase from 12 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 13.2 million lira, an increase from 5.0 million lira in the prior-year period.

The normalized profit margin climbed to 16.1% from 7.3% in the year-earlier period.

Total revenue climbed 22.1% year over year to 82.8 million lira from 67.9 million lira, and total operating expenses rose year over year to 63.2 million lira from 62.3 million lira.

Reported net income grew from the prior-year period to 19.9 million lira, or 50 kurus per share, from 6.5 million lira, or 16 kurus per share.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.