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Avrasya Petrol Q4 profit falls YOY

Avrasya Petrol ve Turistik Tesisler Yatirimlar Anonim Sirketi said its fourth-quarter normalized net income was 3 kurus per share, a decrease of 20.0% from 3 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 1.2 million lira, a decline of 20.0% from 1.4 million lira in the prior-year period.

The normalized profit margin dropped to 200.1% from 206.3% in the year-earlier period.

Total revenue decreased 17.5% on an annual basis to 575,020 lira from 696,650 lira, and total operating expenses declined 73.4% on an annual basis to 1.3 million lira from 4.8 million lira.

Reported net income declined 34.3% on an annual basis to 1.6 million lira, or 4 kurus per share, from 2.4 million lira, or 5 kurus per share.

For the year, the company's normalized net income totaled 4 kurus per share, a decline of 52.6% from 9 kurus per share in the prior year.

Normalized net income was 1.9 million lira, a fall of 52.6% from 4.0 million lira in the prior year.

Full-year total revenue fell year over year to 2.5 million lira from 2.6 million lira, and total operating expenses declined 52.5% on an annual basis to 3.6 million lira from 7.6 million lira.

The company said reported net income decreased 69.2% year over year to 2.1 million lira, or 5 kurus per share, in the full year, from 6.7 million lira, or 15 kurus per share.

As of Feb. 8, US$1 was equivalent to 2.95 Turkish lira.