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Dardanel Onentas Gida Sanayi Q2 profit climbs YOY

Dardanel Onentas Gida Sanayi AS said its normalized net income for the second quarter amounted to 5.0 million lira, an increase from 358,010 lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 7.8% from 0.7% in the year-earlier period.

Total revenue grew 27.6% on an annual basis to 63.4 million lira from 49.7 million lira, and total operating expenses increased 34.8% from the prior-year period to 55.0 million lira from 40.8 million lira.

Reported net income grew year over year to 8.0 million lira, or 15 kurus per share, from 590,300 lira, or 1 kurus per share.

As of Aug. 19, US$1 was equivalent to 2.93 Turkish lira.