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Yatas Q2 profit climbs 64.8% YOY

Yatas Yatak Ve Yorgan Sanayi Ticaret AS said its second-quarter normalized net income came to 9 kurus per share, an increase of 65.7% from 5 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 3.7 million lira, a gain of 64.8% from 2.2 million lira in the year-earlier period.

The normalized profit margin rose to 2.9% from 2.6% in the year-earlier period.

Total revenue rose 46.6% year over year to 127.1 million lira from 86.7 million lira, and total operating expenses increased 48.7% on an annual basis to 116.9 million lira from 78.6 million lira.

Reported net income rose 38.7% on an annual basis to 3.9 million lira, or 9 kurus per share, from 2.8 million lira, or 7 kurus per share.

As of Aug. 18, US$1 was equivalent to 2.93 Turkish lira.