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Lüks Kadife Ticaret ve Sanayi Q1 profit climbs YOY

Lüks Kadife Ticaret ve Sanayi AS said its first-quarter normalized net income was 5 kurus per share, a gain from 1 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 469,650 lira, an increase from 119,820 lira in the prior-year period.

The normalized profit margin rose to 6.8% from 1.7% in the year-earlier period.

Total revenue came to 6.9 million lira, compared with 7.0 million lira in the year-earlier period, and total operating expenses rose year over year to 6.2 million lira from 6.1 million lira.

Reported net income grew from the prior-year period to 446,100 lira, or 4 kurus per share, from 105,290 lira, or 1 kurus per share.

As of May 11, US$1 was equivalent to 2.69 Turkish lira.