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Goodyear Lastikleri Türk Q2 profit climbs 71.6% YOY

Goodyear Lastikleri Türk AS said its normalized net income for the second quarter came to 6 kurus per share, a gain from 2 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.7 million lira, an increase of 71.6% from 9.2 million lira in the prior-year period.

The normalized profit margin climbed to 4.6% from 3.3% in the year-earlier period.

Total revenue climbed 9.6% on an annual basis to 308.2 million lira from 281.2 million lira, and total operating expenses climbed 6.9% from the prior-year period to 283.1 million lira from 264.8 million lira.

Reported net income grew 79.4% year over year to 17.8 million lira, or 7 kurus per share, from 9.9 million lira, or 2 kurus per share.

As of Aug. 6, US$1 was equivalent to 2.78 Turkish lira.