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Ekiz Kimya Sanayi Ve Ticaret swings to profit in Q2

Ekiz Kimya Sanayi Ve Ticaret AS said its second-quarter normalized net income was 5 kurus per share, compared with a loss of 8 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 335,340 lira, compared with a loss of 589,710 lira in the prior-year period.

The normalized profit margin increased to 9.7% from negative 26.0% in the year-earlier period.

Total revenue rose 57.5% on an annual basis to 3.6 million lira from 2.3 million lira, and total operating expenses rose on an annual basis to 4.8 million lira from 2.4 million lira.

Reported net income came to 1.3 million lira, or 18 kurus per share, compared to a loss of 943,530 lira, or a loss of 13 kurus per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 2.97 Turkish lira.