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Yunsa Yunlu Q2 profit falls YOY

Yunsa Yunlu Sanayi ve Ticaret AS said its second-quarter normalized net income was 3 kurus per share, a decline of 95.1% from 52 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 743,010 lira, a decline of 95.1% from 15.2 million lira in the year-earlier period.

The normalized profit margin declined to 1.1% from 18.4% in the year-earlier period.

Total revenue decreased 14.8% on an annual basis to 70.7 million lira from 83.0 million lira, and total operating expenses declined 9.2% year over year to 67.5 million lira from 74.4 million lira.

Reported net income declined 96.1% year over year to 894,850 lira, or 3 kurus per share, from 22.7 million lira, or 78 kurus per share.

As of Aug. 6, US$1 was equivalent to 2.78 Turkish lira.