Türk Tuborg Bira ve Malt Sanayii A.S. said its first-quarter normalized net income came to 10 kurus per share, an increase from 5 kurus per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.0 million lira, a gain from 15.0 million lira in the year-earlier period.
The normalized profit margin rose to 21.2% from 13.0% in the year-earlier period.
Total revenue grew 27.1% year over year to 147.0 million lira from 115.6 million lira, and total operating expenses climbed 7.8% on an annual basis to 100.4 million lira from 93.1 million lira.
Reported net income rose on an annual basis to 38.5 million lira, or 12 kurus per share, from 18.9 million lira, or 6 kurus per share.
As of April 30, US$1 was equivalent to 2.68 Turkish lira.
