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Hateks Q2 profit falls YOY

4914145 said its normalized net income for the second quarter came to 3 kurus per share, a decrease of 63.5% from 9 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 654,790 lira, a decline of 63.5% from 1.8 million lira in the prior-year period.

The normalized profit margin fell to 2.2% from 6.9% in the year-earlier period.

Total revenue rose 15.0% year over year to 30.0 million lira from 26.1 million lira, and total operating expenses climbed 30.3% year over year to 29.5 million lira from 22.7 million lira.

Reported net income decreased 83.0% on an annual basis to 376,810 lira, or 2 kurus per share, from 2.2 million lira, or 11 kurus per share.

s of Aug. 18, US$1 was equivalent to 2.90 Turkish lira.Hateks Hatay Tekstil Isletmeleri AS

4914145 said its normalized net income for the second quarter came to 3 kurus per share, a decrease of 63.5% from 9 kurus per share in the prior-year period.