trending Market Intelligence /marketintelligence/en/news-insights/trending/uT45oMTrDyjwlG8erYyoSQ2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Flap Kongre swings to profit in Q4

A Community Bank Shares its “Going Green” Story with Stakeholders

Podcast

Street Talk Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Street Talk – Episode 76: Record pace of fintech M&A, funding in Q1'21 has legs

Blog

Banking Essentials Newsletter: May Edition


Flap Kongre swings to profit in Q4

Flap Kongre Toplanti Hizmetleri Otomotiv ve Turizm AS said its normalized net income for the fourth quarter was 19 kurus per share, compared with a loss of 2 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 5.9 million lira, compared with a loss of 627,240 lira in the year-earlier period.

The normalized profit margin climbed to 4.2% from negative 5.5% in the year-earlier period.

Total revenue grew year over year to 140.5 million lira from 11.3 million lira, and total operating expenses climbed from the prior-year period to 131.6 million lira from 12.9 million lira.

Reported net income came to 7.6 million lira, or 24 kurus per share, compared to a loss of 528,420 lira, or a loss of 2 kurus per share, in the year-earlier period.

For the year, the company's normalized net income totaled 27 kurus per share, a gain from 5 kurus per share in the prior year.

Normalized net income was 8.6 million lira, a rise from 1.6 million lira in the prior year.

Full-year total revenue increased on an annual basis to 165.0 million lira from 33.9 million lira, and total operating expenses rose 340.1% on an annual basis to 153.0 million lira from 34.8 million lira.

The company said reported net income rose year over year to 10.8 million lira, or 34 kurus per share, in the full year, from 2.3 million lira, or 7 kurus per share.

As of Feb. 23, US$1 was equivalent to 2.94 Turkish lira.