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Bossa Q2 profit falls YOY

Bossa Ticaret ve Sanayi Isletmeleri T. AS said its normalized net income for the second quarter amounted to 6 kurus per share, a decline of 14.1% from 6 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.0 million lira, a decline of 14.1% from 6.9 million lira in the year-earlier period.

The normalized profit margin dropped to 5.7% from 7.3% in the year-earlier period.

Total revenue increased 9.7% on an annual basis to 105.0 million lira from 95.7 million lira, and total operating expenses grew 14.6% from the prior-year period to 96.8 million lira from 84.5 million lira.

Reported net income declined 24.3% from the prior-year period to 7.6 million lira, or 7 kurus per share, from 10.0 million lira, or 9 kurus per share.

As of Aug. 18, US$1 was equivalent to 2.93 Turkish lira.