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Kristal Kola Q2 profit falls YOY

Kristal Kola ve Mesrubat Sanayi Ticaret AS said its second-quarter normalized net income came to 325,140 lira, a decrease of 22.1% from 417,290 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 fell to 1.4% from 2.3% in the year-earlier period.

Total revenue increased 33.9% on an annual basis to 23.9 million lira from 17.8 million lira, and total operating expenses increased 41.0% from the prior-year period to 24.1 million lira from 17.1 million lira.

Reported net income declined 18.1% year over year to 429,540 lira, or 1 kurus per share, from 524,370 lira, or 1 kurus per share.

As of Aug. 18, US$1 was equivalent to 2.90 Turkish lira.