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Carrefoursa Q1 profit climbs YOY

Carrefour SA Carrefour Sabanci Ticaret Merkezi AS said its normalized net income for the first quarter came to 78.8 million lira, an increase from 3.7 million lira in the year-earlier period.

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

The normalized profit margin climbed to 10.1% from 0.5% in the year-earlier period.

Total revenue rose 11.5% year over year to 778.6 million lira from 698.1 million lira, and total operating expenses increased 15.3% from the prior-year period to 783.4 million lira from 679.4 million lira.

Reported net income rose from the prior-year period to 112.7 million lira, or 16 kurus per share, from 3.7 million lira, or 1 kurus per share.

As of May 5, US$1 was equivalent to 2.71 Turkish lira.