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AVOD Q2 loss narrows YOY

AVOD Kurutulmus Gida ve Tarim Urunleri Sanayi TAS said its normalized net income for the second quarter was a loss of 530 lira, compared with a loss of 264,420 lira in the year-earlier period.

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

The normalized profit margin climbed to negative 0.0% from negative 1.4% in the year-earlier period.

Total revenue climbed 22.3% on an annual basis to 23.5 million lira from 19.2 million lira, and total operating expenses increased 30.4% on an annual basis to 22.5 million lira from 17.2 million lira.

Reported net income came to 185,910 lira, or 1 kurus per share, compared to a loss of 394,300 lira, or a loss of 1 kurus per share, in the year-earlier period.

As of Aug. 16, US$1 was equivalent to 2.93 Turkish lira.