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Bimeks Bilgi Islem Ve Dis Ticaret Q4 profit climbs 33.6% YOY

Bimeks Bilgi Islem Ve Dis Ticaret AS said its fourth-quarter normalized net income came to 2 kurus per share, an increase of 33.6% from 2 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.0 million lira, an increase of 33.6% from 2.2 million lira in the prior-year period.

The normalized profit margin increased to 0.8% from 0.6% in the year-earlier period.

Total revenue grew on an annual basis to 398.7 million lira from 386.2 million lira, and total operating expenses came to 366.6 million lira, compared with 365.5 million lira in the prior-year period.

Reported net income fell 16.4% year over year to 4.5 million lira, or 4 kurus per share, from 5.4 million lira, or 5 kurus per share.

For the year, the company's normalized net income totaled 4 kurus per share, a decrease of 17.4% from 5 kurus per share in the prior year.

Normalized net income was 4.6 million lira, a fall of 17.4% from 5.5 million lira in the prior year.

Full-year total revenue grew 24.7% on an annual basis to 1.57 billion lira from 1.26 billion lira, and total operating expenses grew 24.0% on an annual basis to 1.51 billion lira from 1.21 billion lira.

The company said reported net income grew year over year to 9.4 million lira, or 8 kurus per share, in the full year, from 9.2 million lira, or 8 kurus per share.

As of March 8, US$1 was equivalent to 2.91 Turkish lira.