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Yatas Q1 profit climbs YOY

Yatas Yatak Ve Yorgan Sanayi Ticaret AS said its first-quarter normalized net income came to 5 kurus per share, a gain 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 2.2 million lira, a gain from 970,550 lira in the year-earlier period.

The normalized profit margin rose to 2.3% from 1.6% in the year-earlier period.

Total revenue climbed 55.6% year over year to 94.8 million lira from 61.0 million lira, and total operating expenses climbed 48.5% from the prior-year period to 88.5 million lira from 59.6 million lira.

Reported net income rose from the prior-year period to 2.7 million lira, or 6 kurus per share, from 1.2 million lira, or 3 kurus per share.

As of May 10, US$1 was equivalent to 2.94 Turkish lira.