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Dogtas Kelebek Mobilya Q2 loss narrows YOY

Dogtas Kelebek Mobilya Sanayi ve Ticaret AS said its second-quarter normalized net income came to a loss of 1.9 million lira, compared with a loss of 3.6 million lira in the prior-year period.

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

The normalized profit margin increased to negative 1.7% from negative 3.9% in the year-earlier period.

Total revenue climbed 19.9% year over year to 111.8 million lira from 93.3 million lira, and total operating expenses grew 24.4% from the prior-year period to 107.2 million lira from 86.2 million lira.

Reported net income totaled a loss of 2.3 million lira, or a loss of 1 kurus per share, compared to a loss of 4.7 million lira, or a loss of 2 kurus per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 2.93 Turkish lira.