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Iz Hayvancilik Tarim swings to loss in H1

Iz Hayvancilik Tarim ve Gida Sanayi Ticaret AS said its normalized net income for the first half came to a loss of 26,390 lira, compared with income of 28,390 lira in the prior-year period.

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

Total revenue fell 7.3% year over year to 4.4 million lira from 4.8 million lira, and total operating expenses fell year over year to 4.3 million lira from 4.5 million lira.

Reported net income came to 214,100 lira, or 3 kurus per share, compared to a loss of 80,300 lira, or a loss of 1 kurus per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to 2.79 Turkish lira.