Taç Tarim Ürünleri Hayvancilik Gida Sanayi ve TAS said its first-half normalized net income amounted to a loss of 479,960 lira, compared with income of 14,460 lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue decreased 52.2% on an annual basis to 1.4 million lira from 2.8 million lira, and total operating expenses declined 42.4% from the prior-year period to 1.5 million lira from 2.6 million lira.

Reported net income decreased 64.7% year over year to 112,440 lira, or 2 kurus per share, from 318,810 lira, or 5 kurus per share.

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