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Kütahya Porselen Sanayi Q3 profit climbs 11.2% YOY

Kütahya Porselen Sanayi AS said its normalized net income for the third quarter came to 14 kurus per share, a gain of 11.2% from 13 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 5.7 million lira, an increase of 11.2% from 5.1 million lira in the year-earlier period.

The normalized profit margin increased to 9.0% from 8.3% in the year-earlier period.

Total revenue grew year over year to 63.3 million lira from 61.8 million lira, and total operating expenses came to 55.1 million lira, compared with 55.1 million lira in the prior-year period.

Reported net income increased 38.6% from the prior-year period to 9.1 million lira, or 23 kurus per share, from 6.6 million lira, or 16 kurus per share.

As of Nov. 9, US$1 was equivalent to 3.23 Turkish lira.