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Adese Alisveris Merkezleri Ticaret Q2 profit climbs YOY

Adese Alisveris Merkezleri Ticaret AS said its second-quarter normalized net income amounted to 2.1 million lira, a rise from 293,340 lira in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.3% from 0.2% in the year-earlier period.

Total revenue grew 8.0% on an annual basis to 161.2 million lira from 149.2 million lira, and total operating expenses increased 8.2% year over year to 157.9 million lira from 146.0 million lira.

Reported net income rose year over year to 3.2 million lira, or 3 kurus per share, from 760,890 lira, or 1 kurus per share.

As of Aug. 19, US$1 was equivalent to 2.94 Turkish lira.