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Bossa Q2 profit climbs 8.6% YOY

Bossa Ticaret ve Sanayi Isletmeleri T. AS said its second-quarter normalized net income amounted to 6 kurus per share, a gain of 8.7% from 6 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 6.9 million lira, an increase of 8.6% from 6.4 million lira in the year-earlier period.

The normalized profit margin increased to 7.3% from 6.0% in the year-earlier period.

Total revenue decreased 10.6% on an annual basis to 95.7 million lira from 107.0 million lira, and total operating expenses fell 13.5% year over year to 84.5 million lira from 97.7 million lira.

Reported net income increased 24.6% on an annual basis to 10.0 million lira, or 9 kurus per share, from 8.1 million lira, or 7 kurus per share.

As of Aug. 7, US$1 was equivalent to 2.78 Turkish lira.