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Ege Endüstri ve Ticaret Q1 profit climbs 78.1% YOY

Ege Endüstri ve Ticaret AS said its normalized net income for the first quarter amounted to 5.55 Turkish lira per share, a gain of 78.1% from 3.11 lira per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.5 million lira, an increase of 78.1% from 9.8 million lira in the year-earlier period.

The normalized profit margin rose to 20.5% from 19.8% in the year-earlier period.

Total revenue increased 72.1% year over year to 85.3 million lira from 49.6 million lira, and total operating expenses increased 85.2% on an annual basis to 64.5 million lira from 34.8 million lira.

Reported net income grew 76.4% from the prior-year period to 24.8 million lira, or 7.88 lira per share, from 14.1 million lira, or 4.47 lira per share.

As of May 11, US$1 was equivalent to 2.69 Turkish lira.