Yaprak Süt ve Besi Çiftlikleri Sanayi ve TAS said its normalized net income for the first quarter amounted to 6 kurus per share, a decline of 13.9% from 6 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 393,020 lira, a decline of 13.9% from 456,240 lira in the year-earlier period.
The normalized profit margin dropped to 12.5% from 16.2% in the year-earlier period.
Total revenue grew 12.3% year over year to 3.2 million lira from 2.8 million lira, and total operating expenses rose 21.2% year over year to 2.5 million lira from 2.1 million lira.
Reported net income increased 27.5% from the prior-year period to 529,650 lira, or 7 kurus per share, from 415,370 lira, or 6 kurus per share.
As of April 29, US$1 was equivalent to 2.65 Turkish lira.
