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Isbir Holding H2 profit falls YOY

Isbir Holding AS said its second-half normalized net income came to 3.66 Turkish lira per share, a decline of 56.9% from 8.50 lira per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.3 million lira, a decline of 56.9% from 5.4 million lira in the prior-year period.

Total revenue climbed 15.7% year over year to 228.9 million lira from 197.9 million lira, and total operating expenses climbed 12.7% from the prior-year period to 204.7 million lira from 181.6 million lira.

Reported net income fell 56.7% year over year to 6.6 million lira, or 10.33 lira per share, from 15.1 million lira, or 23.84 lira per share.

For the year, the company's normalized net income totaled 3.46 lira per share, a decrease of 88.8% from 30.94 lira per share in the prior year.

Normalized net income was 2.2 million lira, a decrease of 88.8% from 19.6 million lira in the prior year.

Full-year total revenue fell on an annual basis to 429.9 million lira from 447.5 million lira, and total operating expenses fell on an annual basis to 388.1 million lira from 408.0 million lira.

The company said reported net income increased 40.8% year over year to 44.1 million lira, or 69.39 lira per share, in the full year, from 31.3 million lira, or 49.29 lira per share.

As of March 7, US$1 was equivalent to 2.92 Turkish lira.