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BIM Birlesik Magazalar Q2 profit climbs 65.3% YOY

BIM Birlesik Magazalar AS said its second-quarter normalized net income was 39 kurus per share, compared with the S&P Capital IQ consensus estimate of 35 kurus per share.

EPS increased 65.3% year over year from 24 kurus.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 119.9 million lira, a gain of 65.3% from 72.5 million lira in the year-earlier period.

The normalized profit margin rose to 2.8% from 2.0% in the year-earlier period.

Total revenue increased 22.2% year over year to 4.35 billion lira from 3.56 billion lira, and total operating expenses rose 20.8% year over year to 4.17 billion lira from 3.45 billion lira.

Reported net income rose 66.8% on an annual basis to 149.6 million lira, or 49 kurus per share, from 89.7 million lira, or 30 kurus per share.

As of Aug. 17, US$1 was equivalent to 2.86 Turkish lira.