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Rodrigo Tekstil swings to profit in H1

Rodrigo Tekstil Sanayi ve Ticaret A.S. said its first-half normalized net income was 74,350 lira, compared with a loss of 43,990 lira in the year-earlier period.

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

Total revenue declined 27.2% year over year to 4.3 million lira from 5.9 million lira, and total operating expenses decreased 33.8% year over year to 3.9 million lira from 5.9 million lira.

Reported net income increased 16.6% on an annual basis to 6,900 lira, or 0 kurus per share, from 5,920 lira, or 0 kurus per share.

As of Aug. 4, US$1 was equivalent to 3.02 Turkish lira.