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Yonga Mobilya H1 profit falls YOY

Yonga Mobilya Sanayi ve TAS said its normalized net income for the first half was 3.19 Turkish lira per share, a decrease of 74.8% from 12.64 lira per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 669,460 lira, a decrease of 74.8% from 2.7 million lira in the year-earlier period.

Total revenue rose on an annual basis to 26.2 million lira from 25.1 million lira, and total operating expenses rose 19.1% year over year to 24.9 million lira from 20.9 million lira.

Reported net income declined 70.7% from the prior-year period to 995,400 lira, or 4.74 lira per share, from 3.4 million lira, or 16.16 lira per share.

As of Aug. 8, US$1 was equivalent to 2.98 Turkish lira.