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Frigo-Pak Gida Maddeleri swings to profit in Q1

4912381 said its normalized net income for the first quarter was 2 kurus per share, compared with a loss of 20 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 83,090 lira, compared with a loss of 1.0 million lira in the prior-year period.

The normalized profit margin increased to 0.8% from negative 16.4% in the year-earlier period.

Total revenue grew 57.7% on an annual basis to 9.9 million lira from 6.2 million lira, and total operating expenses climbed 52.6% on an annual basis to 10.2 million lira from 6.7 million lira.

eported net income totaled 206,550 lira, or 4 kurus pe Frigo-Pak Gida Maddeleri Sanayi ve Ticaret AS