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Royal Hali Iplik Tekstil Q1 profit climbs 24.0% YOY

Royal Hali Iplik Tekstil Mobilya Sanayi Ve Ticaret AS said its normalized net income for the first quarter amounted to 10 kurus per share, an increase of 24.0% from 8 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 6.3 million lira, a gain of 24.0% from 5.1 million lira in the year-earlier period.

The normalized profit margin climbed to 8.8% from 7.6% in the year-earlier period.

Total revenue rose 7.2% on an annual basis to 71.5 million lira from 66.7 million lira, and total operating expenses decreased on an annual basis to 59.3 million lira from 61.4 million lira.

Reported net income increased 23.3% on an annual basis to 9.2 million lira, or 15 kurus per share, from 7.4 million lira, or 12 kurus per share.

As of May 9, US$1 was equivalent to 2.94 Turkish lira.