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Izmir Firça H1 profit climbs 11.6% YOY

Izmir Firça Sanayi ve Ticaret AS said its first-half normalized net income was 1 kurus per share, an increase of 11.5% from 1 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 223,670 lira, a gain of 11.6% from 200,470 lira in the prior-year period.

Total revenue grew 58.7% year over year to 11.2 million lira from 7.1 million lira, and total operating expenses climbed 75.3% on an annual basis to 11.2 million lira from 6.4 million lira.

Reported net income fell 22.9% on an annual basis to 235,940 lira, or 1 kurus per share, from 306,090 lira, or 2 kurus per share.

As of Aug. 2, US$1 was equivalent to 2.99 Turkish lira.