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Marmaris Altinyunus Q2 profit climbs YOY

Marmaris Altinyunus Turistik Tesisler AS said its second-quarter normalized net income came to 11 kurus per share, an increase from 5 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 629,940 lira, an increase from 262,750 lira in the prior-year period.

The normalized profit margin rose to 38.3% from 21.1% in the year-earlier period.

Total revenue increased 32.0% year over year to 1.6 million lira from 1.2 million lira, and total operating expenses increased on an annual basis to 1.1 million lira from 1.1 million lira.

Reported net income rose 61.6% on an annual basis to 679,470 lira, or 12 kurus per share, from 420,400 lira, or 8 kurus per share.

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