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Aksa Akrilik Kimya Sanayii Q1 profit climbs 31.6% YOY

Aksa Akrilik Kimya Sanayii AS said its normalized net income for the first quarter amounted to 21 kurus per share, a gain of 31.6% from 16 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 38.3 million lira, a gain of 31.6% from 29.1 million lira in the year-earlier period.

The normalized profit margin rose to 7.8% from 5.8% in the year-earlier period.

Total revenue decreased year over year to 489.6 million lira from 503.6 million lira, and total operating expenses fell from the prior-year period to 438.0 million lira from 451.6 million lira.

Reported net income grew 39.2% from the prior-year period to 49.9 million lira, or 27 kurus per share, from 35.8 million lira, or 19 kurus per share.

As of April 30, US$1 was equivalent to 2.68 Turkish lira.