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Bizim Toptan Satis Magazalari profit holds relatively steady YOY in Q2

Bizim Toptan Satis Magazalari AS said its normalized net income for the second quarter amounted to 5 kurus per share, compared with 5 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 3.0 million lira, compared with 3.0 million lira in the prior-year period.

The normalized profit margin fell to 0.4% from 0.5% in the year-earlier period.

Total revenue grew 10.9% year over year to 709.6 million lira from 639.7 million lira, and total operating expenses grew 10.8% year over year to 694.6 million lira from 627.1 million lira.

Reported net income decreased year over year to 3.6 million lira, or 6 kurus per share, from 3.7 million lira, or 6 kurus per share.

As of Aug. 10, US$1 was equivalent to 2.96 Turkish lira.