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Dagi Giyim Sanayi ve Ticaret Q2 profit climbs 23.8% YOY

Dagi Giyim Sanayi ve Ticaret AS said its second-quarter normalized net income came to 3 kurus per share, a gain of 23.8% from 3 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 1.3 million lira, a gain of 23.8% from 1.1 million lira in the prior-year period.

The normalized profit margin dropped to 4.2% from 6.8% in the year-earlier period.

Total revenue increased on an annual basis to 32.4 million lira from 16.0 million lira, and total operating expenses rose year over year to 28.5 million lira from 14.0 million lira.

Reported net income decreased 62.0% on an annual basis to 1.7 million lira, or 4 kurus per share, from 4.5 million lira, or 10 kurus per share.

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