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Akyürek Pazarlama Q1 profit climbs 92.6% YOY

Akyürek Tüketim Ürünleri Pazarlama Dagitim ve TAS said its first-quarter normalized net income amounted to 5 kurus per share, a gain of 92.6% from 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 2.1 million lira, a gain of 92.6% from 1.1 million lira in the year-earlier period.

The normalized profit margin rose to 1.2% from 0.7% in the year-earlier period.

Total revenue rose on an annual basis to 175.9 million lira from 170.6 million lira, and total operating expenses grew on an annual basis to 169.7 million lira from 166.7 million lira.

Reported net income increased 22.2% from the prior-year period to 1.6 million lira, or 4 kurus per share, from 1.3 million lira, or 3 kurus per share.

As of April 30, US$1 was equivalent to 2.68 Turkish lira.