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Derimod Konfeksiyon Ayakkabi Deri Q2 profit climbs YOY

Derimod Konfeksiyon Ayakkabi Deri Sanayi ve Ticaret AS said its second-quarter normalized net income came to 19 kurus per share, a gain from 4 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 1.0 million lira, a gain from 186,790 lira in the year-earlier period.

The normalized profit margin increased to 2.8% from 0.8% in the year-earlier period.

Total revenue climbed 54.4% year over year to 37.8 million lira from 24.5 million lira, and total operating expenses rose 57.3% year over year to 35.9 million lira from 22.8 million lira.

Reported net income grew year over year to 1.3 million lira, or 24 kurus per share, from 250,500 lira, or 5 kurus per share.

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