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Yatas Q3 profit climbs YOY

Yatas Yatak Ve Yorgan Sanayi Ticaret AS said its normalized net income for the third quarter came to 11 kurus per share, an increase from 2 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 4.9 million lira, a gain from 848,720 lira in the prior-year period.

The normalized profit margin climbed to 3.7% from 1.0% in the year-earlier period.

Total revenue climbed 50.2% year over year to 131.8 million lira from 87.7 million lira, and total operating expenses climbed 50.3% year over year to 119.8 million lira from 79.7 million lira.

Reported net income increased year over year to 5.5 million lira, or 13 kurus per share, from 1.0 million lira, or 2 kurus per share.

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