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Vanet Gida H1 loss narrows YOY

Vanet Gida Sanayi Iç Ve Dis TAS said its first-half normalized net income came to a loss of 83,690 lira, compared with a loss of 894,710 lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased on an annual basis to 4.5 million lira from 1.8 million lira, and total operating expenses increased 33.3% from the prior-year period to 5.5 million lira from 4.1 million lira.

Reported net income totaled a loss of 106,490 lira, or a loss of 0 kurus per share, compared to a loss of 1.4 million lira, or a loss of 6 kurus per share, in the year-earlier period.

As of Aug. 4, US$1 was equivalent to 3.02 Turkish lira.