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Marmaris Altinyunus Q1 profit climbs 53.2% YOY

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Marmaris Altinyunus Q1 profit climbs 53.2% YOY

Marmaris Altinyunus Turistik Tesisler AS said its first-quarter normalized net income was 10 kurus per share, an increase of 53.9% from 6 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 541,210 lira, a gain of 53.2% from 353,230 lira in the year-earlier period.

The normalized profit margin increased to 35.1% from 24.6% in the year-earlier period.

Total revenue rose 7.3% year over year to 1.5 million lira from 1.4 million lira, and total operating expenses totaled 1.1 million lira, compared with 1.1 million lira in the prior-year period.

Reported net income rose 53.2% on an annual basis to 865,940 lira, or 16 kurus per share, from 565,160 lira, or 10 kurus per share.

As of April 29, US$1 was equivalent to 2.65 Turkish lira.